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ZURICH, Aug 6, 2025 (BSS/AFP) - Natural disasters caused $135 billion in 
economic losses globally in the first half of 2025, fuelled by the Los 
Angeles wildfires, Swiss Re said Wednesday.

Swiss Re, which serves as an insurer of insurance companies, said first half 
losses were up from the $123 billion in the first half of 2024.

The Zurich-based reinsurance giant estimated that of this year's first half 
losses, $80 billion had been insured.

The Los Angeles blazes in January constitute the largest-ever insured 
wildfire loss event by far, reaching an estimated $40 billion, said Swiss Re.

It said the "exceptional loss severity" of the fires was down to prolonged 
winds, a lack of rainfall and "some of the densest concentration of high-
value single-family residential property in the US".

The March earthquake in Myanmar figured among the major natural disasters in 
the first six months of the year, with the tremors felt in neighbouring 
Thailand, India, and China.

In Thailand alone, insured losses reached $1.5 billion.

The second half of the year is usually more costly for insurers due to damage 
during the North Atlantic hurricane season.

"The strongest lever to increase the resilience and safety of communities is 
to double down on mitigation and adaptation. It's here that everyone can help 
reduce losses before they occur," said Swiss Re's group chief economist 
Jerome Haegeli.

"While mitigation and adaptation measures come at a price, our research shows 
that, for example, flood protection measures such as dykes, dams and flood 
gates are up to 10 times more cost-effective than rebuilding."