US severe convective storms (SCS) continued to drive global natural catastrophe losses during the first half of 2024. Of the estimated $61 billion in global H1 insured losses from natural disasters, US SCS accounted for a minimum $37 billion – or 61% of the total, according to a Gallagher Re report.
Gallagher Re estimates that H1 2024 saw the second costliest US insured SCS total on record for a fi