However, the period still produced 23 billion-dollar economic loss events – matching the long-term average – and 13 billion-dollar insured loss events, exceeding the historical average of 10 billion-dollar insured loss events. “Headline global loss figures can obscure where risk is actually accumulating,” said Michal Lörinc, head of catastrophe insight for Aon. Overall, U.S. natural catastrophes generated approximately $36 billion in insured losses, representing 75 percent of global insured losses in H1 2026. In total, the U.S. experienced 11 billion-dollar insured events, including nine severe convective storm outbreaks and two winter storm events. While severe convective storms remained the dominant driver of insured losses, H1 of 2026 also demonstrated how catastrophe impacts can extend beyond traditional loss metrics.