Gallagher Re reported that insured losses from global natural disasters totaled an estimated $92 billion year-to-date through Q3’26, the lowest total since 2019 and roughly 29% below the 10-year average of $128 billion. Event frequency was near average over the period, but individual events have been less severe. It has now been six quarters without a single natural catastrophe generating more than $10 billion in insured losses, the longest stretch in decades.