Global insured losses from natural disasters reached an estimated $91bn during the first nine months of 2026, according to "Aon's Global Catastrophe Recap: Third Quarter of 2026."
The report reveals that the total was slightly above the 21st-century average of $88bn but was the lowest for the period since 2019 and remained well below the $135 billion average of the past five years
The 39-page report published on 29 October 2026 revealed that the global economic losses reached approximately $204bn during the same period – 31%below the 21st-century average and the lowest first-nine-month total since 2015.
Despite the moderate aggregate figure, 42 events generated economic losses of at least $1bn each, above the long-term average of 37, while 23 events produced insured losses of at least $1bn each, compared with a historical average of 14.
The global protection gap – the share of economic losses not covered by insurance – stood at approximately 55% for the period. Severe convective storms were the costliest peril for both economic and insured losses, while 62% of global insured losses were recorded in the US. The European drought was the costliest insured loss event of the year to date, at more than $8.5bn, while the Venezuela earthquake was the costliest economic loss event, at an estimated $25bn.
Aon Head of Catastrophic Insight Reinsurance Michal Lörinc said, “The first nine months of 2026 demonstrated the need to look beyond aggregate figures and understand how changing hazard patterns, exposure and insurance penetration affect communities, governments and businesses.
“Together, the events demonstrate how major earthquakes can transfer a significant financial burden to households and governments where protection gaps remain wide. Through the development of proprietary analytics tools, and through working with our clients and markets worldwide, our aim is to reduce this protection gap and better serve communities, governments, and businesses wherever they are situated.”