Secondary perils drive 92% of insured natural disaster losses in 2025

According to Swiss Re, secondary perils, including wildfires, severe storms, and floods, accounted for 92% of insured losses from natural disasters in 2025. These losses totaled 107 billion USD, surpassing the 100 billion USD threshold for the sixth consecutive year.

The Los Angeles wildfires alone cost the global insurance market nearly 40 billion USD. Losses from severe storms also remained significant, totaling 51 billion USD.

Insured losses from floods were comparatively lower, at 3.4 billion USD.