Global nat cat costs light in Q3

Relief from some parts of the industry as a new report highlights that Q3, especially the Atlantic Hurricane season, was lighter than previous years.

Key West Hurricane Nat Cats @Pixabay.
The unusually low frequency of Atlantic hurricanes has been the largest cause of the low Q3 nat cat costs.

Global natural catastrophe (nat cat) costs in Q3 were comparatively light compared to previous years.

This was according to Gallagher Re’s new report, which said global nat cat activity remained relatively mild during the third quarter of 2025. The abnormally low frequency of high-cost events has, thus far, left the year within annual catastrophe budgets for governments and the insurance industry.

This is in comparison to Q1, when the Los Angeles wildfires provided a traumatic start to the year, and quickly became publicised as the most costly nat cat event in history, and led many to believe 2025 would be a watershed year for the industry.

Earlier this year, Verisk said the global modelled insured average annual property loss from natural catastrophes had risen to $152 billion.

Please Login or Register for a free account to view this content. Benefits of registering include:

  • Receive weekly Insurance Investor newsletter containing the latest articles and news
  • Hear about latest industry developments and industry analysis first, and be informed ahead of the rest of the market
  • Access exclusive invitations to Insurance Investor industry events in your local region, and meet with peers to network around research-led content programs

Copyright Notice © 2025