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According to Gallagher Re, economic losses caused by natural disasters in the first nine months of 2024 amounted to 280 billion USD.
Insured damage costs reached 108 billion USD, up by 5% on the average of the past decade (102 billion USD).
These estimates do not take into account the heavy costs generated by Hurricane Milton, which struck Florida in early October this year.
Top 10 costliest natural catastrophes for insurers as at 30 September 2024
In billions USD| Date | Event | Region | Insured losses | Economic losses |
|---|---|---|---|---|
| 24-30 September | Hurricane Helene | Cuba, Mexico, United States | >12 | >35 |
| 6-10 May (1) | Storms | United States | 5.3 | 6.5 |
| 12-17 March (1) | Storms | United States | 5.1 | 6.2 |
| 17-22 May (1) | Storms | United States | 4.3 | 5.4 |
| 4-10 August | Hurricane Debby | Canada, United States | 3.4 | 7 |
| 11-18 September | Storm Boris | Europe | 3.1 | 20 |
| 1st January | Earthquake | Japan | 3 | 12 |
| 1st -12 July | Hurricane Beryl | United States | 3 | 6.7 |
| 13-17 April | Flooding | United Arab Emirates, Bahrain, Iran, Oman, Qatar, Saudi Arabia, Yemen | 2.8 | 8.6 |
| 25-26 May (1) | Storms | United States | 2.7 | 3.3 |
(1) A series of events
