Kathmandu. In the first nine months of 2025, at least $114 billion worth of global insured assets were damaged by natural disasters.
According to AON’s third quarter report of the Global Catastrophe Recap 2025, the total economic loss is at least $203 billion. Major disasters decreased in the third quarter, but earthquakes and heat waves killed nearly 18,000 people. That’s 66 percent lower than the 21st century average. The August 31 earthquake was the deadliest in Afghanistan.
Aon said the 36 incidents caused more than $1 billion in economic damage each. However, 22 incidents resulted in more than $1 billion in damage to insured property, the report said.
The global security gap has fallen to a record low of 44 percent. Insured property damage accounts for 88 percent of total damages, primarily due to high insurance coverage in the United States. Severe convective storms were the most costly risk. As a result, $57 billion worth of insured assets were damaged, the report said.
The Palisades fire caused $23 billion worth of insured property damage. The wildfires have damaged more than $40 billion in insured property.
As of June 2025, global reinsurance capital reached a record $735 billion. The amount of disaster bonds has increased by about 20 percent year-on-year to $54 billion.
In the third quarter alone, the total amount of damage to insured assets totaled $12 billion. That’s 72 percent below the long-term average and the lowest since 2006.
