Natural disasters like the Los Angeles wildfires have caused more than $131 billion in global losses during the first six months of 2025, according to a report from insurance company Munich Re.

Halfway through this year, overall losses are “slightly lower,” when compared to the same period in 2024, while also “well above” the long-term average.

Overall losses by June last year were $155 billion, adjusted for inflation, and were driven by a New Year’s Day earthquake in Japan and severe thunderstorms in the United States that produced more than 1,250 tornadoes.

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