The first half of 2025 logged the most damaging extreme weather on record in terms of cost, even after accounting for inflation, data shows.

All told, the first half of the year likely incurred $93 billion to $126 billion in damages, half-year estimates from insurance companies Munich Re, AON and Gallagher Re suggest. This total smashes the previous most costly first six months on record, of $57 billion (inflation-adjusted), set in 2023, according to National Oceanic and Atmospheric Administration (NOAA) data.

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