Global natural catastrophe losses reach $242 billion in first nine months of 2026

Global economic losses from natural catastrophes reached between $204 billion and $242 billion during the first nine months of 2026. Insured losses for the same period totaled approximately $91 billion to $92 billion, marking the lowest levels for the first three quarters of a year since 2019 and 2015, respectively.

In the third quarter of 2026 alone, insured losses reached $29 billion, which is 31% below the 21st-century average. Severe convective storms were identified as the costliest peril for both economic and insured losses, with 62% of global insured losses occurring in the United States.

In the Asia-Pacific region, the insurance market is facing diverse developments. Hong Kong saw life insurance premiums rise 89% year-on-year in the second quarter of 2026, driven by growth across banks, agents, and brokers. Meanwhile, Indonesia is implementing higher capital requirements and new minimum equity rules, which are expected to pressure smaller firms and drive industry consolidation.