The world leader in professional services Aon published the results of his report 2025 Climate and catastrophe insight, which identifies global natural disasters and climatic trends to quantify the risk and impact of extreme weather phenomena.
The report reveals that in 2024 global natural catastrophes caused USD 368 billion (in 2023 were USD 397 billion) in economic losses in 2024, driven by hurricanes and severe convective storms (SCS) in the United States. The figure represents 14 percent above the average of the 21st century and the ninth consecutive year of losses greater than USD 300 billion.
The Climate and Catastrophe Insight report indicates:
Meteorological phenomena are increasingly frequent and expensive. Global insurance losses in 2024 were 54% above the average of the 21st century, covering US $ 145 billion of US $ 368 billion in damage (in 2023 it was US $ 126 billion).
Even when the insured losses far exceeded the average, the protection gap remained at 60% (in 2023 it was 68%), which represents an important financial obstacle for communities, companies and governments.
The increase in population, wealth and general exposure to natural hazards in high -risk areas remains a crucial component of the increase in disaster losses.
He Hurricane Helene It was the most expensive global event in 2024. Hurricane touched land in the US. In September and caused damage to USD 75 billion and 243 deaths. Hurricane Milton in October was the most expensive insured losses event worldwide, causing losses worth USD 20 billion. These are the main taxpayers to the fact that 78% of global insured losses were recorded in the US.
The constant growth of SCs by SCs severe convective storms reflects the increase in population, exposure and wealth. There were at least 54 global events and each of them resulted in economic losses greater than one billion dollars in 2024, which is above the average of 44. The increase in the number of events of billions of dollars is due in Great measure to SCs in the USA. Increases the probability of disasters of billions of dollars, particularly because the United States continues to experience spatial growth in cities in areas regularly affected by the SCS activity, such as Dallas, Houston or Denver.
In climate terms, 2024 was the warmer registered year. Twenty countries and territories registered their highest temperatures for a year in which 15 consecutive months of maximum world global temperatures ended in August.
Aon’s report also shows that with greater resilience and mitigation measures, global economies can reduce damage and loss of lives. In 2024, 18,100 people lost their lives due to natural disasters, mainly due to heat waves and floods worldwide. This was below the average of the 21st century of 72,400 and could be attributed to better alert systems, meteorological forecasts and evacuation planning, which underlines the value of data, knowledge and reliable climate analysis.
The 10 main economic loss events worldwide were the following:
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Hurricane Helenewhich affected the United States, Mexico and Cuba
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Hurricane Miltonin the United States and Mexico
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Earthquake noticin Japan
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Floods in ValenciaSpain
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Floods in South and Center of China
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Typhoon Yagiin China and Southeast Asia
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Hurricane Beryl, In the United States, Canada and the Caribbean
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Floods In central Europe
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Droughts in the United States
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Severe convective storms In the United States
By Marcelo Alfano
