A devastating earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods were the main events driving insured natural catastrophe losses to USD 108 billion in 2023, reaffirming the 5–7% annual growth trend in global insured natural catastrophe losses since 1994.

The world is getting warmer and natural hazards are becoming more intense, likely bringing higher economic losses in the future. Today, four major weather perils result in expected economic losses of USD 200 billion annually. With more severe weather coming, economic losses are set to rise.

This report discusses under the current trajectory, global GDP could be 11–14% less by mid-century than in a world without climate change. The loss under Paris Agreement targets would be significantly less (around 4%).

This publication discusses how 2020 will be remembered for the global health and economic crisis triggered by COVID-19. Against the backdrop of the disruption and upheaval caused by the pandemic, millions of people also experienced severe weather events.

Countries across the world are reliant on a range of services that are based around their natural ecosystems. Biodiversity and Ecosystem Services (BES) include such necessities as food provision, water security and regulation of air quality that are vital to maintaining the health and stability of communities and economies.