Munich Re’s data on global insured natural catastrophe losses of $44 billion for H1 2026 compares to broker Aon’s estimate of at least $47 billion, and reinsurance broker Gallagher Re’s estimate of $46 billion. Total economic losses are estimated to have reached nearly $112 billion in H1 2026, which compared to the period’s $44 billion in insured losses, represents an insurance gap of 60%. Munich Re observed that the economic losses for the first half of the year were marginally lower than the inflation-adjusted average figures from the past decade (total losses: $113 billion; insured losses: $50 billion), yet considerably below the 5-year average figures (total losses: $136 billion; insured losses: $66 billion). The United States dominated global insured catastrophe losses again, causing total economic losses of around $47 billion by June, $34 billion of which were insured. According to preliminary estimates, total losses from the quake are expected to be in the region of $30 billion, which includes insured losses of less than $1 billion.