Natural disasters caused $131 billion in damage in the first half of 2025. That is slightly less than last year, but much more than normal, reports reinsurer Munich Re. The fires around Los Angeles were the most expensive wildfires ever.
Of the $131 billion (113 billion euros) in damage caused by natural disasters, $80 billion was insured, writes Munich Re. The reinsurer, which insures insurance companies, has data on this going back to 1980.
The natural disasters in the United States dominate the figures. The fires around Los Angeles in January were the most expensive wildfires ever. The total costs amounted to $53 billion, of which $40 billion was insured.
Never before have wildfires caused so much damage, writes Munich Re. The damage amount as a result of these fires was almost twice as much as the total damage amount as a result of fires in 2018. And 2018 was then the most expensive year in terms of wildfires.
“Disasters such as those in Los Angeles are more likely to have occurred due to global warming and they teach us an important lesson,” says Thomas Blunck, board member at the reinsurer. “People, authorities and companies must adapt to the new circumstances.” According to Blunck, more robust buildings and infrastructure must be provided.
Myanmar earthquake second most expensive disaster of 2025
The earthquake in Myanmar at the end of March was the second most expensive disaster of this year so far. The damage amount was 12 billion euros. Only a small percentage of that amount was insured.
In all of 2024, natural disasters caused approximately 320 billion euros in damage, according to Munich Re. That was an increase of almost 20 percent compared to the year before.