Insights
Gallagher Re’s recent report on 1H26 natural catastrophe losses
Posted 16/07/2026 – Insights
A new report from Gallagher Re shows that global insured losses from natural disasters totalled $46bn in the first half of 2026. This is 28% lower than the 10-year average of $64bn. Of this $46bn, around $28bn came from Severe Convective Storms (SCSs). Total economic losses were estimated to be $142bn worldwide, 10% below the 10-year average of $159bn.
Alpha Comment
The first half of 2026 has seen a high level of loss activity within the specialty (re)insurance market, largely as a result of losses linked to the war involving Iran. This report refers only to natural disasters which has seen a quieter 6 months than usual. That said, this report again highlights the growing frequency and severity of SCS losses. Previously SCSs were considered “secondary perils” however they have become more prevalent within the (re)insurance market. Whilst total natural disaster losses remain below the 10-year average, this is before any possible destructive US hurricane activity in the second half of the year.
