Natural perils had a total direct economic cost of $417 billion in 2024. (Credit: cherylvb/Adobe Stock)
Natural catastrophes caused global insured losses of $154 billion in 2024, a number that’s 27% above the 10-year average, according to a new report from Gallagher Re.
The report estimates that natural perils had a total direct economic cost of $417 billion in 2024. Private and public insurance entities covered 37% of that total, with the United States alone accounting for $117 billion in insured losses.
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