Insured catastrophe losses worldwide by type 2023

In 2023, the largest portion of insured losses came from severe convective storms. From 2019 through to 2022, the largest portion of insured catastrophe losses worldwide were as a result of severe weather. Severe weather caused roughly 40 billion U.S. dollars in insured losses each year from 2020 to 2022. Overall, 2022 had the highest total cost of losses incurred, totaling 133 billion U.S. dollars.

Value of insured catastrophe losses worldwide from 2019 to 2023, by catastrophe type (in billion U.S. dollars)

Characteristic	Flooding	Severe weather	Tropical cyclone	Wildfire	Winter weather	European windstorm	Earthquake	Drought	Other	Severe convective storm
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Release date

May 2024

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Region

Worldwide

Survey time period

2019 to 2023

Supplementary notes

Date of access used as release date.

Data includes natural disasters that have caused at least 25 million U.S. dollars in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged.
Severe weather includes severe convective storms such as thunderstorms, tornadoes and hailstorms, straight-line winds and flooding that could occur with these storms.

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