Insurers’ first-quarter natural catastrophe losses were lower than the decade’s average
According to global reinsurance broker Gallagher Re, the total insured loss from natural catastrophes in the first quarter of 2026 was lower than a year earlier.
The relatively low natural catastrophe losses have given the reinsurance industry an opportunity to strengthen its financial position ahead of what Gallagher Re believes will be more costly quarters.
“The decline in total losses is largely due to the later onset of convective storm activity in the US and the absence of large-scale industry catastrophes with losses exceeding $1 billion,” Gallagher Re commented.
According to the UkrStrakhovanie website, in the first quarter, insured losses from natural catastrophes amounted to approximately $20 billion. This result is 26% lower than the decade’s average ($26 billion).
According to Gallagher Re, economic losses from natural disasters are estimated at $58 billion, which is 12% lower than the average for the first quarter of the 10-year period ($67 billion).
Comments