Hurricane Milton, which struck Florida's west coast shortly after Helene, added another $25 billion in losses.

The ongoing Palisades fire and Eaton blaze, which ignited on January 7, 2025, are projected to incur losses in the lower tens of billions, potentially making them the costliest wildfires in U.S. history.

Liz Henderson from Aon highlighted that significant hurricanes tend to impact large areas with high property values, resulting in elevated overall losses.

In 2024, insured losses surged by 36% to $112.7 billion, marking the highest insured loss since 2022.

Globally, natural disasters caused $368 billion in economic losses, reflecting a 7.3% decline from 2023 but remaining about 14% above the average since 2000.

According to insurance broker Aon PLC, this figure represents the highest annual economic loss from natural disasters since 2017.

A significant portion of these losses stemmed from Hurricane Helene, which inflicted $75 billion in damages across six southeastern states, primarily due to flooding.

Additional economic losses were attributed to at least two other hurricanes, severe storms, and a drought that affected the U.S. during the year.

The year 2025 has begun on a grim note with devastating wildfires in Los Angeles County, leading to at least 28 fatalities and the destruction of over 14,000 structures.

As of January 2025, the outlook for reduced natural disaster losses appears bleak, with recent wildfires already projected to be among the costliest disasters.