#insured-losses

#insured-losses

The 33 percent drop was recorded despite the wildfires that ravaged wealthy neighbourhoods in Los Angeles in January, burning more than 9,308 hectares (23,000 acres), destroying homes and businesses and forcing thousands to flee. Swiss Re put the insured losses from the inferno at $40bn, labelling it the globe's costliest wildfire to date. That single event was a major contributor to the $107bn in insured losses from natural catastrophes in 2025.

California recorded 8,110 blazes in 2024, marking a significant increase in wildfire activity compared to other regions across the country, emphasizing the state's fire vulnerability.