Global insured natural catastrophe losses reached an estimated £31.1bn in the first half of 2026, 16% below the 10-year average, according to Swiss Re Institute. Losses from severe convective storms were also below trend.

Swiss Re cautioned that the lower first-half total does not indicate that catastrophe risk has receded, however. Insured wildfire losses in Europe have increased by an estimated 8% to 11% a year in real terms since 1970, making wildfire the fastest-growing weather peril globally.


See the next issue of CIR Magazine for more on wildfire risk

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