Hurricanes and Floods Push Insured Losses Over $100 Billion

In 2024, insured losses from natural disasters are estimated to surpass USD 135 billion, marking the fifth consecutive year above USD 100 billion. The U.S. bore the brunt, with Hurricane Helene and Hurricane Milton causing nearly USD 50 billion in losses. Severe thunderstorms also contributed significantly to these figures.

Europe faced major flooding, with estimated losses nearing USD 13 billion. These events are attributed to climate change, which intensifies weather conditions. The Swiss Re Institute highlights the importance of investing in mitigation and adaptation measures.

Floods in Europe and the UAE exemplify the global rise in flood risk. April's intense rains disrupted Dubai's operations, while Storm Boris in September impacted Central Europe. These floods underscore the need for effective protective measures, which prove more cost-efficient than rebuilding.