Zurich, Aug. 13 (SANA) Natural disasters caused an estimated $100 billion in global economic losses in the first half of 2026, as extreme weather events continued to impose mounting costs on economies worldwide, according to reinsurance group Swiss Re.
Swiss Re said in a report published Tuesday that disasters affected both developed and developing economies, with earthquakes, severe storms, heatwaves and wildfires among the major drivers of losses.
Two earthquakes in Venezuela were the costliest disasters during the period, causing an estimated $20 billion in losses, while severe storms inflicted widespread damage across the United States, the group said.
Europe has also faced intense heatwaves, contributing to an early start to the wildfire season in France and Spain and causing extensive damage to homes and infrastructure.
Swiss Re warned that the El Niño climate phenomenon could increase weather volatility in the second half of 2026, raising the risk of tropical cyclones, floods and wildfires in several regions.
Rising temperatures have become a “risk multiplier,” the group said, creating conditions that increase the likelihood of drought and flash floods.
Wildfires are among the fastest-growing climate-related risks globally, with inflation-adjusted insured wildfire losses in Europe rising by between 8% and 11% annually since 1970, according to Swiss Re.
The group said Europe recorded an average of 21 to 26 days a year with temperatures of at least 30 degrees Celsius between 2016 and 2025, compared with 10 to 17 days annually in the 1950s.
Europe has experienced an exceptionally hot summer this year, with wildfires burning around half a million hectares of land. Five successive heatwaves have pushed temperatures above 42 degrees Celsius and contributed to more than 25,000 deaths.
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