Natural disasters hit global economy for $220bn in 2025

Natural disasters caused $220bn in global economic losses in 2025, according to projections by reinsurer Swiss Re.

The company, which insures insurance companies, issued its preliminary estimate for 2025 on Tuesday. Despite the staggering cost of natural catastrophes, ranging from hurricanes to wildfires, the level of the losses was actually an improvement on the previous year, when the world was hit for $327bn.

The 33 percent drop was recorded despite the wildfires that ravaged wealthy neighborhoods in Los Angeles in January, burning more than 9,308 hectares (23,000 acres), destroying homes and businesses and forcing thousands to flee.