In 2024, natural disasters have resulted in over $258 billion in global economic losses during the first nine months, according to Aon’s Global Natural Disasters Report.
This significant figure includes substantial damages from hurricanes in the Atlantic, severe flooding in Central Europe and China, and intense storms across North America, marking a year of record-breaking losses and a complex recovery landscape.
Aon’s report highlights that 47 catastrophic events worldwide incurred individual damages exceeding $1 billion each, with North America experiencing the highest concentration at 32 events, followed by Asia and EMEA (Europe, Middle East, and Africa).
The most economically destructive event so far has been Hurricane Helene, with Southeast Asia’s Super Typhoon Yagi causing an estimated $12.6 billion in damage. Additionally, severe floods in China have contributed significantly to the total.
Insurance claims have risen sharply to cover these unprecedented losses, with insured losses estimated to reach at least $102 billion by the end of September.
This amount surpasses the 21st-century average of $79 billion, reflecting the increased frequency and intensity of natural disasters and the growing need for resilience.
The report predicts that global insured losses will likely exceed $125 billion by the end of 2024, considering the damage from Hurricane Milton and other possible events yet to come.
Aon’s Role in Risk and Resilience Management
Aon’s Turkey Co-CEO, Selda Oknas Tanbay, emphasized the critical role of the insurance sector in supporting economic resilience in times of crisis. She noted that natural disaster risk management has become increasingly complex and that insurers play an essential part in strengthening economies through proactive risk assessment and innovative insurance solutions.
“Our goal at Aon is to help our clients better prepare for these challenges with forward-thinking strategies that support resilience,” she stated.
Top 5 Global Disasters in 2024
The top five global disasters that caused the most economic losses in the first nine months of 2024 were:
| Disaster | Date | Country | Death Number | Economic Loss (billion dollar) |
| Hurricane Helene | 25/09-28/09 | USA, Mexico, Cuba | 227+ | 55* |
| Noto Earthquake | 01/01 | Japan | 299 | 17,9 |
| Floods in Southern and Central China | 09/06-14/07 | China | 315 | 15,6 |
| Typhoon Yagi | 01/09-09/09 | Southeast Asia | 829 | 12,6 |
| Severe Storms | 15/01-21/01 | USA | 6 | 7 |
*Preliminary figures, damage assessment efforts continue.
With climate crises deepening and extreme weather events intensifying, the 2024 Global Natural Disasters Report underscores the growing need for advanced risk management solutions to mitigate future impacts. Through its global reach and expertise, Aon aims to help communities adapt to the new climate landscape, offering tailored solutions across over 120 countries.
