Natural disasters such as wildfires, storms, and earthquakes had caused $131 billion of damage worldwide in the first half of 2025.
This is the second-highest total for a first-half period since 1980, according to German reinsurer Munich Re.
The California wildfires alone caused an estimated $53 billion worth of damage in January, making them the costliest fire disaster on record, according to Munich Re.
In general, the U.S. was hit particularly hard, with numerous severe storms and tornadoes pushing total losses to $92 billion, representing 70 per cent of global damages.
The deadliest event was a March 28 earthquake in Myanmar, which claimed 4,500 lives.
Scientists at Munich Re say weather-related natural disasters are becoming more frequent and severe due to global warming.
Europe avoids major disasters except the Swiss landslide.
Europe was spared major disasters and saw comparatively modest losses of around 5 billion dollars.
Still, Tobias Grimm, Chief Climatologist at Munich Re, warned against complacency.
“It was luck that Europe avoided major weather catastrophes in the first half of the year.’’
One exception was a May landslide in Switzerland’s Valais Canton, where a rock and ice avalanche buried the village of Blatten and destroyed 130 houses.
This has caused $500 million in estimated damages.
Munich Re said thawing alpine permafrost due to climate change is increasing geological risks in mountain regions.
Of the $131 billion damage total, 80 billion dollars was insured, both numbers well above the inflation-adjusted average for recent decades.
Only the first half of 2011, marked by Japan’s earthquake and tsunami, saw higher overall losses.