Climate Disasters to Cost $145 Billion in 2025, Swiss Re Warns

Global insured losses from natural catastrophes are projected to reach $145 billion in 2025, up 6% from last year, Swiss Re reported. The figure marks one of the highest annual totals on record, driven by wildfires, storms, and floods worldwide. Early‑year wildfires in southern California and record flooding in Southeast Asia contributed significantly to the uptick. Swiss Re analysts highlighted urban growth in high‑risk zones and climate change as key factors exacerbating the economic toll. The reinsurance firm urged insurers and governments to invest in resilience measures, including improved building codes and flood defenses, to curb future losses "Reuters".