Gitnux/Report 2026

Climate Change Insurance Industry Statistics

253Statistics
76Sources
12Sections
1Visuals
45mRead
Climate Change Insurance Industry Statistics
Samuel NorbergWritten by Samuel Norberg·Fact-checked by Maya Johansson
Published
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The climate change insurance industry at a glance

Climate-change insurance is expanding alongside catastrophe risk, but the global natural-catastrophe protection gap reached $424 billion in 2025, leaving almost three-quarters of exposure uninsured.

$424B[25]
Protection gap, 2025
$220B[25]
Economic catastrophe losses, 2025
49%[25]
Losses insured, 2025
$61.3B[65]
Cat-bond market, 2025
Market size
There is no universally defined standalone market for “climate change insurance”; the most comparable measurable segment is natural-catastrophe insurance. Global economic losses from natural catastrophes were $220 billion in 2025, with $107 billion insured according to OECD data.[22]
Forecast & CAGR
Swiss Re projected insured natural-catastrophe losses to rise by 5%–7% annually in real terms, reaching about $145 billion in 2025 from $137 billion in 2024. This is a loss-growth outlook rather than a forecast for total insurance premiums.[25]
Market share & regions
Europe recorded $11 billion of natural-catastrophe damage in 2025, of which $5.3 billion was insured. Emerging markets generally retain much lower catastrophe-insurance penetration, with 80%–90% of losses remaining uninsured in many markets.[7][25]
Segmentation
The industry spans traditional property and casualty coverage, reinsurance, parametric insurance, crop insurance and insurance-linked securities. Catastrophe bonds remained a major alternative-risk-transfer segment, with $25.6 billion of new issuance in 2025 and $61.3 billion outstanding at year-end.[65]
Key players & concentration
The market is distributed across primary insurers, global reinsurers, brokers and capital-market investors rather than a single concentrated group of providers. Swiss Re reported $5.9 billion of natural-catastrophe premiums in 2025, while the catastrophe-bond market had 15 new sponsors during the year.[66][65]
Pricing
In the United States, average homeowners premiums increased in every NAIC region between 2018 and 2024, with inflation-adjusted increases ranging from 18.3% to 43.3%. In high-climate-risk U.S. ZIP codes, federal analysis found premiums were 82% higher than in the lowest-risk quintile over 2018–2022.[47][67]
Trends, drivers & challenges
Rising asset exposure, urbanization, severe convective storms, wildfire and flood are increasing claims volatility and widening coverage gaps. Swiss Re estimated the global natural-catastrophe protection gap at $424 billion in 2025, up from $395 billion in 2024, despite insurance resilience reaching 27.3%.[25]
Consumer behavior & competition
Demand remains uneven: EIOPA reported that only 17% of European respondents held coverage for property damage caused by natural catastrophes in its 2025 Eurobarometer. In the United States, 715 companies wrote homeowners coverage in 2024, while insurers increasingly compete through risk selection, reinsurance capacity and alternative products.[7][47]
Regulation
Regulators are focusing on affordability, availability, climate-risk supervision and closing protection gaps. EIOPA is developing policy options with the European Central Bank to increase natural-catastrophe insurance uptake, while Italy’s mandatory natural-catastrophe coverage extension introduced in 2025 increased insurers’ exposure to physical climate risk.[7][22]
Latest news
The latest reported market developments are record growth in insurance-linked securities and a persistent protection gap. Catastrophe-bond issuance reached $25.6 billion in 2025, lifting outstanding risk capital to $61.3 billion, while Swiss Re estimated that almost three-quarters of global natural-catastrophe exposure remained uninsured.[65][25]

02 Ranking

Top 10 Companies in the Climate Change Insurance Industry

The leading companies in the climate change insurance industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 11, 2026 · Next review December 11, 2026

Verdict

Allianz and AXA are tied at the top of Gitnux's 2026 climate change insurance ranking with an Overall score of 9.1 each.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in low-carbon commercial coverage

    Allianz

    DE

    Ranked #1 · 9.1 · Low-carbon commercial coverage

    Why we picked it: It combines low-carbon commercial coverage with participation in parametric climate-risk programs.

    See in ranking ↓Visit allianz.com ↗

  2. Leader in parametric weather insurance

    AXA

    FR

    Ranked #2 · 9.1 · Parametric weather insurance

    Why we picked it: It sells climate-risk protection through AXA Climate and parametric weather insurance products.

    See in ranking ↓Visit axa.com ↗

  3. Leader in parametric catastrophe underwriting

    Descartes Underwriting

    FR

    Ranked #3 · 9.0 · Parametric catastrophe underwriting

    Why we picked it: It reports scale in parametric climate and catastrophe lines across 35+ products.

    See in ranking ↓Visit descartesunderwriting.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the climate change insurance industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Allianz

Low-carbon commercial coverage · DE

9.1
2

AXA

Parametric weather insurance · FR

9.1
3

Descartes Underwriting

Parametric catastrophe underwriting · FR

9.0
4

Generali

Climate-resilience primary insurance · IT

8.9
5

Arbol

Parametric agriculture & property · US

8.8
6

Munich Re

Global reinsurance and climate catastrophe risk · DE

8.8
7

Swiss Re

Global reinsurance and climate catastrophe risk · CH

8.7
8

CelsiusPro Group

Parametric climate insurance and risk transfer · CH

8.6
9

Sompo Holdings

Global P&C insurance and climate resilience cover · JP

8.4
10

African Risk Capacity

African sovereign drought and catastrophe insurance · BM

8.2

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 11, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Samuel Norberg. (2026, November 11). Top 10 companies in the climate change insurance industry. In Climate Change Insurance Industry Statistics. Gitnux. https://gitnux.org/climate-change-insurance-industry-statistics/#top-companies

report visual · Projection

Estimated insured property losses from U.S. natural catastrophes, in 2024 dollars

Estimated insured property losses from U.S. natural catastrophes, in 2024 dollars grew from $48.5B in 2019 to $112.8B in 2024.

$48.5B
Start
+18.39%
CAGR · 5y
$112.8B
Projected
20192024
source-verifiedwww-legacy.iii.org2024

04 Statistics

Technology & Innovation

AI adoption is widespread, with nearly 60% of insurers and managing general agents expecting transformation within one to three years. Many use AI for underwriting risk and operational cost reduction.

AI in the climate change insurance industry

  • Nearly 60% of insurers and managing general agents expected artificial intelligence to significantly transform their business models within one to three years.[1]
  • 39% of insurers were using or considering artificial intelligence for underwriting risk in 2024.[2]
  • 29% of insurers globally were using artificial intelligence in 2024.[2]
  • 51% of insurers globally were considering implementing artificial intelligence in 2024.[2]
  • 73% of insurers were using or considering artificial intelligence to reduce operational costs in 2024.[2]

Automation in the climate change insurance industry

  • 81% of insurance technology, data, digital and analytics leaders identified improving customer satisfaction and retention as a GenAI objective.[3]
  • 90% of insurance organizations had GenAI budgets in 2024.[3]
  • 73% of insurers were using or considering artificial intelligence to reduce operational costs in 2024, indicating automation-oriented deployment across insurance operations.[2]

Digital Transformation in the insurance sector (sector benchmark)

  • 13% of UK insurance professionals surveyed said their operations were fully digitized, while 79% considered digital transformation important or extremely important for competitiveness.[4]
  • 46% of global insurers were classified as having digital aspirations in ACORD’s 2025 maturity study, meaning they had explicit digitalization investment but remained on the transformation journey.[5]
  • 25% of the world’s 210 largest insurers had fully digitalized their value chain in ACORD’s 2025 study, while 46% were still investing in digitalization without completing the transformation.[5]
  • 45% of surveyed global insurance companies identified legacy technology systems and infrastructure as their biggest barrier to adopting digital tools and new ways of working.[6]

Technology Adoption in the insurance sector (sector benchmark)

  • 65% of European insurance undertakings surveyed by EIOPA were already actively using generative AI in 2025, with another 23% planning adoption.[7]
  • 95% of UK insurance firms responding to the Bank of England’s 2024 survey were already using artificial intelligence, the highest adoption rate among surveyed financial-services sectors.[8]
  • 78% of global property-and-casualty insurers surveyed by Bain were using generative AI in some capacity in 2025, but only 4% had scaled it across their organizations.[9]
  • 76% of US insurance executives surveyed by Deloitte had implemented generative AI in at least one business function in 2024, including 82% of life-and-annuity insurers and 70% of property-and-casualty insurers.[10]

Cloud Computing in the insurance sector (sector benchmark)

  • Gartner reported in 2024 that industry cloud platforms were highly valued by insurance respondents to its Cloud End-User Behavior Survey, indicating strong interest in sector-specific cloud environments.[11]
  • Cloud computing and data-science techniques were described as well embedded across many Irish insurance companies in a 2025 CEO survey covering 37 respondents.[12]
  • 94% of Insurance Ireland CEOs surveyed said their companies currently adopted cloud technology in 2025, making it the most widely adopted innovative technology in the survey.[12]
  • 78% of Insurance Ireland CEOs surveyed planned future use of cloud technology in 2025, despite already reporting 94% current adoption.[12]

Big Data in the insurance sector (sector benchmark)

  • 64% of reported generative-AI use cases among European insurers were for internal back-office applications in EIOPA’s 2025 survey, compared with 36% for customer-facing applications.[7]
  • 75% of Insurance Ireland CEOs surveyed said their companies currently adopted data science or analytics in 2025, making it the second-most adopted innovative technology in the survey.[12]
  • 65% of European insurance undertakings surveyed by EIOPA used generative AI in 2025, with reported applications spanning customer service, claims management, sales and distribution, and data analysis.[7]
  • 50% of European non-life insurers and 24% of life insurers reported using artificial intelligence in their operations in EIOPA’s 2023 digitalization survey.[7]

IoT in the insurance sector (sector benchmark)

  • 19% of Insurance Ireland CEOs reported planned IoT adoption in 2025, compared with 54% planning machine learning and predictive modelling and 86% planning artificial intelligence.[12]
  • 13% of Insurance Ireland CEOs surveyed said their companies currently adopted Internet of Things technology in 2025.[12]
  • 13% of Insurance Ireland CEOs reported current IoT adoption in 2025, compared with 94% for cloud technology and 75% for data science or analytics.[12]
  • 19% of Insurance Ireland CEOs surveyed planned future Internet of Things adoption in 2025, up from 13% reporting current adoption.[12]

Innovation in the climate change insurance industry

  • 10% of insurers planned to use climate-scenario analysis to inform strategy in the near future in 2024.[13]
  • 58% of insurers assessed both the impact of climate-related risks on their finances and their own impact on climate change in 2024.[13]

05 Statistics

Data & Analytics

Earth-observation and trigger verification show up as concrete underwriting inputs, including AXA Climate’s wildfire-severity index backed by Sentinel-2 bands 8 and 12.

Business intelligence in the climate change insurance industry

  • 79% of surveyed insurers prioritized investment in better climate data, models and analytics for resilient infrastructure underwriting in 2026.[14]
  • 2 Sentinel-2 spectral bands, bands 8 and 12, underpin AXA Climate’s wildfire-severity index for parametric forestry insurance in Europe.[15]
  • 2 climate-resilience analytics applications—risk assessment and trigger verification—were identified as benefits of Earth-observation data for parametric insurance in Europe in 2024.[15]
  • 79% of surveyed insurers were investing in underwriting tools and decision-support systems for climate-resilient infrastructure in 2026.[14]
  • 22 of the 25 largest U.S. property-and-casualty carriers were reported as Insurity customers in 2026, indicating broad deployment of insurance intelligence platforms.[16]
  • 7 of the 10 largest U.S. managing general agents were reported as Insurity customers in 2026, indicating adoption of analytics-enabled insurance platforms.[16]

Data analytics in the climate change insurance industry

  • 31 parametric underwriters listed earthquake as a trigger in the 2024 market analysis summarized by JPMorgan.[17]
  • 1 wildfire-detection algorithm was developed by AXA Climate using the satellite-derived Normalized Burn Ratio for parametric forestry insurance in Europe by 2024.[15]
  • 18 parametric-insurance underwriters were identified in 2023, up from 12 in 2021, in JPMorgan’s cited market analysis.[17]
  • 35 parametric underwriters listed windstorm as a trigger, making it the most frequently cited trigger in the 2024 market analysis summarized by JPMorgan.[17]
  • 11% annual growth was reported for parametric insurance markets using improved Earth-observation data and trigger verification in 2024.[15]
  • 34 parametric-insurance underwriters were forecast for 2033 in JPMorgan’s cited market analysis.[17]

Data Quality in the insurance sector (sector benchmark)

  • 39% of insurers globally cited asset data management as an operational challenge in 2024.[18]
  • 63% of UK insurers and brokers reported distrust in data as a data challenge in 2025.[19]
  • 71% of UK insurers and brokers reported duplicate data as a data challenge in 2025.[19]
  • 53% of insurance respondents globally identified access to external data as a fraud-response challenge in 2024.[20]
  • 45% of insurers globally cited receiving relevant asset data within required timeframes as an operational challenge in 2024.[18]
  • 61% of insurance respondents globally identified internal data quality as their biggest challenge in fraud response in 2024.[20]

Data Governance in the insurance sector (sector benchmark)

  • 67% of UK insurers and brokers followed manual processes for customer financial-crime risk assessments in 2025.[19]
  • 55% of insurance executives said data security and privacy were a focus of their data strategy in 2026.[21]
  • 17% of UK insurers and brokers had a unified data platform supporting integrations from multiple data sources in 2025.[19]
  • 48% of insurance executives said risk management and compliance were a focus of their data strategy in 2026.[21]
  • 65% of insurance executives said data governance was a focus of their data strategy in 2026.[21]

KPIs in the climate change insurance industry

  • 119.1% was Colombia’s non-life combined ratio in 2025, the highest among the jurisdictions highlighted by OECD.[22]
  • 88.7% was Slovenia’s non-life combined ratio in 2024, before it improved to 72.6% in 2025.[22]
  • 104.5% was Finland’s non-life combined ratio in 2025, indicating underwriting loss on the combined-ratio measure.[22]
  • 74.8% was the simple-average non-life insurer retention ratio across 52 reporting jurisdictions in 2024.[22]
  • 92.9% was the U.S. non-life insurance combined ratio in 2025, the lowest level in more than a decade according to OECD-reported NAIC data.[22]
  • 103.1% was El Salvador’s non-life combined ratio in 2025, indicating claims and expenses exceeded premiums in the reported market.[22]

06 Statistics

Strategy & Growth

Alternative capital is rising alongside insured losses and protection gaps, with $25.6B of catastrophe bonds issued in 2025.

Growth in the climate change insurance industry

  • Pula Foundation received a €10 million grant to expand climate-risk insurance access to 10 million smallholder farmers by 2030.[23]
  • Natural-catastrophe insured losses reached $147 billion worldwide in 2025, exceeding $100 billion for the sixth consecutive year according to Munich Re.[24]
  • Arbol raised $60 million in Series B funding to expand its climate-risk solutions and insurance portfolio in 2023.[23]
  • Oka raised $10 million in April 2024 to support capital requirements and expansion in carbon-credit insurance.[23]
  • Arbol transacted $250 million in gross written premium in 2023 across renewable-energy and reinsurance activities.[23]
  • Parsyl raised $20 million in Series C financing in 2024 to expand its climate-risk insurance offerings, underwriting appetite and geographic reach.[23]

Differentiation in the climate change insurance industry

  • Swiss Re’s New York parametric flood product offered up to $1.1 million in emergency funding based on satellite, sensor and social-media data.[25]
  • Arbol’s parametric-insurance platform focused on climate and weather risks, including renewable-energy and reinsurance applications, in 2023.[23]
  • The SEWA heat-insurance product combined parametric payouts with direct cash assistance to protect income during extreme heat in 2024.[25]

07 Statistics

People & Workforce

Workforce constraints intersect with transformation: 32% of insurance CEOs cite retirements plus lack of replacements as the largest workforce-impact factor in 2024.

Hiring in the climate change insurance industry

  • 21% of new hires in the Lloyd’s market came from ethnically diverse backgrounds in 2023.[26]
  • 28% of Canadian property-and-casualty brokerage respondents had hired recent immigrants in 2024.[27]
  • 950 graduates and apprentices were hired by firms in the Lloyd’s market in 2024.[26]
  • 46% of new hires in the Lloyd’s market were women in 2023.[26]
  • 11,443 people were hired by firms in the Lloyd’s market in 2024.[26]

Employee retention in the climate change insurance industry

  • 35% of Canadian property-and-casualty brokers cited losing access to talent as a threat from inadequate diversity in 2024.[27]
  • 84% of employees in the Lloyd’s market and Corporation recommended their workplace as a great place to work in 2024.[26]
  • 32% of insurance CEOs identified employee retirements combined with a lack of skilled replacements as their organization’s largest workforce-impact factor in 2024.[28]
  • 29% of insurance CEOs identified knowledge transfer between employees as their organization’s largest workforce-impact factor in 2024.[28]
  • 65% of insurance candidates discontinued the hiring process because of an unattractive employee value proposition or culture, according to Aon research.[29]

Remote Work in the insurance sector (sector benchmark)

  • Across U.S. finance and insurance employees, 30% worked fully from home during the December 2024–March 2025 survey period.[30]
  • Across U.S. finance and insurance workers, 13.4% reported remote work in the Chicago Fed survey covering July 2021 through March 2024.[31]
  • Across North American insurance and actuarial professionals, 89% said in 2025 they had the option to work remotely.[32]
  • Across U.S. insurance companies, 22% said in 2025 that most of their staff worked fully remotely.[33]

Hybrid Work in the insurance sector (sector benchmark)

  • Among finance, insurance and real-estate employers in the United States, 55.8% were classified as fully hybrid in the 2024 NACE employer survey.[34]
  • Across U.S. finance and insurance employees, 38% worked in hybrid arrangements during the December 2024–March 2025 survey period.[30]
  • Across U.S. finance and insurance workers, 28.7% were in hybrid work environments as of September 2024.[35]
  • Across 116 UK insurance companies, 19% expected their hybrid-working policy to become more restrictive in 2025.[36]

Upskilling in the climate change insurance industry

  • 93 Lloyd’s managers received training on supportive and productive mental-health conversations in 2023.[37]
  • 59% of insurance CEOs identified differences between older and younger employees as a major workforce-impact factor in 2024.[28]

Employee Engagement in the insurance sector (sector benchmark)

  • Across insurance employees surveyed by APQC in the first half of 2024, employee experience priorities and engagement gaps were measured across insurance organizations.[38]
  • Among workers newly hired into property and casualty insurance during the previous five years, about one-third valued engaging and interesting work in a 2025 poll.[35]
  • Among U.S. employees surveyed by Gallup, 16% were actively disengaged in 2023, providing an economy-wide benchmark for insurance employers.[39]
  • Across U.S. employees, 33% were engaged in their work and workplace in 2023, an economy-wide benchmark relevant where insurance-specific engagement data are limited.[39]

DEI in the climate change insurance industry

  • 35% of leadership roles in the Lloyd’s market were held by women in 2023.[26]
  • 86% of Lloyd’s employees felt they could be themselves at work in 2024.[37]
  • 2% of Lloyd’s market employees disclosed a disability, long-term illness or health problem in 2023.[26]
  • 43.4% of the Lloyd’s market workforce were women in 2023.[26]
  • 13% of the Lloyd’s market workforce identified as ethnically diverse in 2023.[26]

Change Management in the insurance sector (sector benchmark)

  • Across 200 global insurance executives, 45% identified legacy technology as a major barrier to adopting digital tools and new ways of working in 2024.[6]

08 Statistics

Customer & Sales

Uptake remains limited even as products evolve; in Europe, 17% of respondents held property-damage coverage from natural catastrophes in 2025.

Customer experience in the climate change insurance industry

  • 31% of surveyed European insurance consumers had considered climate-risk cover in 2026, down from 38% in 2025.[40]
  • 39% of surveyed European insurance consumers ranked a known brand name as their top driver when choosing an insurer in 2026.[40]

Customer retention in the climate change insurance industry

  • More than 80% of policyholders reporting poor claims experiences had already left or said they planned to leave their insurer in a U.S. survey conducted in 2025.[41]
  • Nearly 100% were the reported renewal rates for Berkshire Hathaway Specialty Insurance’s parametric policies in 2024.[42]

Customer acquisition in the climate change insurance industry

  • 35% of surveyed South African life and health insurers identified attracting customers assessed as better risks as a motivation for offering green insurance products in 2024.[43]
  • 45% of surveyed South African life and health insurers identified business growth, including attracting green consumers, as a motivation for offering green insurance products in 2024.[43]

Customer loyalty in the climate change insurance industry

  • 22.1% of U.S. consumers considered it extremely important for their insurer to engage in environmentally friendly practices in 2024.[44]
  • 60.5% of U.S. consumers in 2024 considered it very or extremely important for their insurer to engage in environmentally friendly practices, according to GlobalData’s survey categories.[44]
  • 38.4% of U.S. consumers considered it very important for their insurer to engage in environmentally friendly practices in 2024.[44]

09 Statistics

Marketing & Brand

Brand and channels are shifting toward AI-assisted engagement, including 9% of European insurance consumers using chatbots in 2026.

Marketing in the climate change insurance industry

  • 45% of surveyed South African life and health insurers cited external ESG pressures as a motivation for offering green insurance products in 2024.[43]
  • 60% of surveyed South African life and health insurers cited environmental impact and value alignment as a motivation for offering green insurance products in 2024.[43]
  • 55% of surveyed South African life and health insurers cited brand and reputation as a motivation for offering green insurance products in 2024.[43]

Digital marketing in the climate change insurance industry

  • 21% of surveyed Gen Z insurance consumers in Europe used chatbots when choosing an insurer in 2026.[40]
  • 9% of surveyed European insurance consumers used chatbots when choosing an insurer in 2026.[40]

Social media in the climate change insurance industry

  • 21% of surveyed Gen Z insurance consumers in Europe used social media or chatbots when choosing an insurer in 2026.[40]
  • 9% of surveyed European insurance consumers used social media or chatbots as recommendation tools when choosing an insurer in 2026.[40]

Influencer Marketing in the insurance sector (sector benchmark)

  • 8%: European insurance undertakings reported plans to establish a commercial relationship with social-media influencers soon in EIOPA’s 2023 survey of 209 undertakings.[7]
  • 11.62%: Banking, finance and insurance companies’ projected average share of marketing budgets allocated to influencer strategies three years later, based on 29 surveyed companies in 2023.[45]
  • 5.76%: Banking, finance and insurance companies’ average share of marketing budgets allocated to influencer strategies currently, based on 29 surveyed companies in 2023.[45]
  • 4.17%: Banking, finance and insurance companies’ average share of marketing budgets allocated to influencer strategies one year earlier, based on 29 surveyed companies in 2023.[45]
  • 25%: European insurance undertakings reported already having a commercial relationship with social-media influencers in EIOPA’s 2023 survey of 209 undertakings.[7]

10 Statistics

Operations & Execution

Execution pressure stays high as events scale, reflected in insured-loss recovery tests such as the 2021 floods in Germany and Belgium.

Operational efficiency in the climate change insurance industry

  • 17% of European respondents held coverage for property damage caused by natural catastrophes in 2025, highlighting limited market reach for climate-risk insurance products.[7]
  • 25% of European extreme-weather and climate-related losses were historically insured, according to EIOPA’s protection-gap analysis.[7]
  • 18% of EU consumers reported holding natural-catastrophe property coverage in 2024, according to EIOPA’s Eurobarometer survey.[7]
  • 25% of European natural-catastrophe losses were insured between 1980 and 2024, leaving insurers and public authorities exposed to a substantial protection gap.[7]

Quality management in the climate change insurance industry

  • 74,000 fatalities were associated with global natural disasters in 2023, when insured global losses reached 95 billion US dollars.[7]
  • 44 billion euros of damage resulted from the 2021 floods in Germany and Belgium, creating a major test of claims handling and recovery capacity.[7]
  • More than 200 people died in the 2021 floods in Germany and Belgium, underscoring the severity of events handled by climate-risk insurers.[7]
  • 16% of Slovenia’s GDP was the estimated damage from the country’s 2023 floods, illustrating the scale of climate-related claims exposure.[7]

Supply chain in the climate change insurance industry

  • 750 million–1.75 billion US dollars was the estimated insured loss from US wildfires in 2024.[24]
  • 6.134 billion US dollars was the estimated insured loss from the 2024 European winter-storm event.[24]
  • 320 billion US dollars was the worldwide overall loss from natural catastrophes in 2024, while insured losses were approximately 140 billion US dollars.[24]
  • 1.25–2.25 billion US dollars was the estimated insured loss from the 2024 US severe-thunderstorm events.[24]
  • 3.064 billion US dollars was the estimated insured loss from the 2024 Germany flood event.[24]

Outsourcing / Offshoring in the insurance sector (sector benchmark)

  • 63% of Australian insurance businesses that offshore used offshore teams for administration and back-office work in 2026.[46]
  • 44% of insurance organizations globally planned to increase outsourcing in Asia over the following 12 months in 2025.[21]
  • 37% of Australian insurance businesses offshored at least one function in 2026, compared with 29% in 2023.[46]
  • 45% of Australian insurance businesses that offshore used offshore teams for document processing in 2026.[46]
  • 79% of insurance organizations globally balanced nearshore and offshore strategic partnerships in 2025.[21]

11 Statistics

Finance & Pricing

Pricing continues to climb: inflation-adjusted increases in average U.S. homeowners premiums ranged from 18.3% to 43.3% across NAIC regions from 2018 to 2024.

Pricing strategy in the climate change insurance industry

  • 18.3% was the smallest inflation-adjusted increase in average homeowners-insurance premiums across NAIC regions from 2018 to 2024.[47]
  • 28% was the inflation-adjusted increase in average US home-insurance premiums from 2017 to 2024, reaching about 2,750 US dollars annually.[48]
  • 43.3% was the largest inflation-adjusted increase in average homeowners-insurance premiums across NAIC regions from 2018 to 2024.[47]
  • 2.4% to 5.3% was the annual average premium-growth range across NAIC regions between 2018 and 2024.[47]
  • 17% of European consumers held natural-catastrophe property coverage in 2025, indicating limited uptake despite rising climate-related pricing pressure.[7]

Cost reduction in the climate change insurance industry

  • 34.5% was Munich Re America’s underwriting expense ratio in 2024.[24]
  • 85.2% was Munich Re’s property-casualty reinsurance combined ratio including natural catastrophes in 2023.[24]
  • 95.2% was the 2023 combined ratio reported by Munich Re America, compared with 103.5% in 2024.[24]
  • 72.6% was Munich Re’s property-casualty reinsurance combined ratio excluding natural catastrophes in 2024.[24]
  • 31.8% was Munich Re America’s underwriting expense ratio in 2023.[24]

Profitability in the climate change insurance industry

  • 82.4% was Munich Re’s 2024 property-casualty reinsurance combined ratio, compared with 85.2% in 2023.[24]
  • 2.644 billion euros was Munich Re’s 2024 natural-catastrophe major-loss expenditure, compared with 2.335 billion euros in 2023.[24]
  • 3.199 billion euros was Munich Re’s 2024 result in property-casualty reinsurance, up from 2.448 billion euros in 2023.[24]
  • 69.0% was Munich Re America’s loss ratio in 2024, compared with 63.4% in 2023.[24]
  • 103.5% was Munich Re America’s combined ratio in 2024, indicating an underwriting loss before investment income.[24]

Financial planning in the climate change insurance industry

  • 2.29 trillion US dollars of insurer assets were covered by a 2024 climate stress-test analysis of medium-to-large insurers in California, Washington and Oregon.[49]
  • 400 home-insurance companies were asked by the NAIC in 2024 to provide detailed data on pricing and policy structures for climate-risk market analysis.[47]
  • 95 billion US dollars was the insured portion of global natural-disaster losses in 2023, according to EIOPA’s protection-gap analysis.[7]
  • 140 billion US dollars was the insured share of worldwide natural-catastrophe losses in 2024, according to Munich Re’s annual report.[24]
  • 30 years of historical data underpinning some insurance capital calculations may be insufficient to reflect future climate risks, according to the Bank of England.[8]

12 Statistics

Product & Service

Parametric design remains central, with 71% of surveyed insurers developing parametric insurance for climate-resilient construction and property in 2026.

Product development in the climate change insurance industry

  • 6% of surveyed insurers were developing performance guarantees or warranties linked to resilience measures in 2026.[14]
  • 71% of surveyed insurers were developing parametric insurance products for climate-resilient construction and property in 2026.[14]
  • 68% of surveyed insurers were beginning to develop or enhance products and features supporting climate resilience in 2026.[14]
  • 29% of surveyed insurers were developing multi-year policies or longer-term cover commitments for climate resilience in 2026.[14]
  • 47% of surveyed insurers were developing build-back-better policy enhancements for climate-resilient construction and property in 2026.[14]

Product lifecycle in the climate change insurance industry

  • $126 billion was the estimated 2027 U.S. total-premium opportunity for emerging extreme-weather insurance products in a 2025 JPMorgan analysis.[17]
  • $25.6 billion of catastrophe bonds were issued globally in 2025, expanding the multi-year capital-market capacity available to climate-risk insurers.[22]
  • 45% year-on-year growth in catastrophe-bond issuance was recorded in 2025, supporting the risk-transfer stage of climate insurance products.[22]
  • Months-long indemnity lead times can be reduced to a few weeks or days using Sentinel-2 imagery in AXA Climate’s wildfire parametric-insurance application in Europe in 2024.[15]
  • 2 in 3 implementation-focused municipal climate-risk-insurance programmes featured parametric insurance in 2026.[50]

After-sales in the climate change insurance industry

  • More than 1,000 U.S. adults participated in Insurity’s online survey of AI-supported severe-weather insurance service in February 2026.[16]
  • 400+ cloud-based insurance-platform deployments were reported by Insurity in 2026, supporting insurer claims and policyholder-service operations.[16]
  • 51% of U.S. consumers were comfortable with insurers using AI to monitor severe weather and deliver real-time risk alerts in 2026.[16]
  • 51% of U.S. consumers would feel confident filing a severe-weather claim if AI validated the loss with satellite imagery or weather data in 2026.[16]
  • 42% of U.S. consumers believed AI could help insurers process claims more efficiently after severe-weather events in 2026.[16]

Value proposition in the climate change insurance industry

  • 30% of insured natural-disaster losses were typically borne by reinsurers, supporting primary insurers’ climate-risk capacity in the United States and globally as reported in 2025.[51]
  • $45 billion was the value of the outstanding catastrophe-bond market in 2023, providing multi-year climate-risk protection for insurers and public entities.[51]
  • 5% was the increase in U.S. reinsurance renewal rates in January 2024 after rates had doubled between 2017 and 2023, affecting climate-cover affordability.[51]
  • $100 billion of natural-disaster risk was borne by capital markets in 2023, giving insurers an alternative risk-transfer channel for climate-related catastrophes.[51]
  • $730 billion was the global reinsurer-capital base at December 2023, supporting the capacity proposition of climate and catastrophe insurance.[51]

13 Statistics

Sustainability & Ethics

Supervisors frame extreme weather as a sustainability risk; more than 90% of European insurance supervisors placed extreme weather events as the sector’s number-one sustainability risk in 2026.

Sustainability in the climate change insurance industry

  • 1.95 million tonnes of CO2 were associated with Allianz’s in-scope motor retail insurance portfolio in 2024.[52]
  • 45% is Allianz’s target reduction in commercial insurance GHG emissions intensity by 2030 versus 2022.[52]
  • 150% is Allianz’s target for profitable revenue growth in commercial insurance coverage for renewable, low-carbon and transition technologies by 2030 versus 2022.[52]
  • 11.7% was the reduction in Allianz’s commercial insurance-associated emissions intensity from its 2022 baseline to 2024.[52]
  • 20 million current and potential customers is Allianz’s target for engagement on electric mobility transition by 2030.[52]

ESG in the climate change insurance industry

  • More than 90% of European insurance supervisors placed extreme weather events as the sector’s number-one sustainability risk in 2026.[7]
  • 3.3% was the median exposure of European insurers to climate-relevant assets as a share of total assets in 2025.[7]
  • 46.7% of European insurance-sector supervisors identified physical climate risk as the key driver of ESG risk in 2024.[7]
  • 30% of insurers’ direct corporate bond and equity exposures were highly dependent on at least one ecosystem service, based on EIOPA’s 2023 analysis.[7]
  • 7.0% was the median exposure of insurers to green bonds as a percentage of total corporate bonds in Europe in Q4 2024.[7]

Ethics in the climate change insurance industry

  • 66 of Zurich’s global integrity concerns in 2025 concerned policy and process integrity.[53]
  • 6 of Zurich’s global integrity concerns in 2025 concerned environment, health and safety.[53]
  • 53 of Zurich’s global integrity concerns in 2025 concerned misuse or misappropriation of assets or information.[53]
  • 388 employee complaints were filed through Allianz’s official SpeakUp mechanism in 2024.[54]
  • 34% was Zurich’s substantiation rate for integrity concerns closed globally in 2025.[53]

CSR in the climate change insurance industry

  • $158 billion was the estimated value of insurers’ aggregate social-impact investments at the 2020 baseline.[47]
  • 55% of North American insurers managed a separate allocation carve-out for impact investments in a 2025 survey.[47]
  • 2.7% of insurers’ aggregate cash and invested assets represented social-impact investments at the 2020 baseline.[47]
  • $171 billion was the projected value of insurers’ aggregate social-impact investments in 2023.[47]
  • $600 million was the endowment launched by Liberty Mutual Foundation for nonprofit work including climate resiliency in 2025.[48]

Circular economy in the climate change insurance industry

  • 14% of responding German property and casualty insurers reported measures to improve soil or water quality in 2025.[55]
  • 57% of responding German property and casualty insurers promoted resource efficiency in 2025.[55]
  • 53% of responding German property and casualty insurers supported recycling rather than disposal of damaged or destroyed items in 2025.[55]
  • 88% of responding German property and casualty insurers preferred repair over complete replacement of damaged items in 2026.[55]
  • 89% of responding German property and casualty insurers incorporated at least one sustainability measure into claims settlement in 2026.[55]

Carbon footprint in the climate change insurance industry

  • 1.3 million tonnes of financed CO2e were reported by Swiss Re for 2023.[25]
  • 195,000 tonnes of operational CO2e were reported by Swiss Re for 2023.[25]
  • 6,960 tonnes of location-based Scope 2 CO2e were reported by Swiss Re for 2023.[25]
  • 57 tonnes of market-based Scope 2 CO2e were reported by Swiss Re for 2023.[25]
  • 1,726 tonnes of Scope 1 CO2e were reported by Swiss Re for 2023.[25]

15 Statistics

Globalization & Expansion

Distribution capacity is expanding globally, including Floodbase climate-insurance programs reaching more than 40 countries and enabling over 9,000 flood-insurance policies by 2024.

Globalization in the climate change insurance industry

  • Natural catastrophes generated $328 billion in global economic losses in 2024, including $181 billion in uninsured losses.[25]
  • Arbol operated across more than 15 countries in 2023 as a climate-risk and parametric-insurance provider.[23]
  • More than 40% of global natural-catastrophe losses were insured in 2025, compared with 23% 30 years earlier.[25]
  • North America accounted for $212 billion of natural-catastrophe economic losses in 2024, compared with $67 billion in Asia and $33 billion in Europe.[25]
  • $424 billion was the estimated global natural-catastrophe protection gap in 2025, with insurance covering 27.3% of protection needs worldwide.[25]

Cultural adaptation in the climate change insurance industry

  • Lloyd’s and the United Nations Capital Development Fund held two parametric-insurance training workshops in Papua New Guinea and Fiji in 2024.[37]
  • The Horn of Africa DRIVE programme targets approximately 50 million pastoralists exposed to drought risk across the region.[25]
  • 46,000 women in South-East Asia received parametric income-loss insurance payouts after India’s May 2024 heat waves.[25]

Supplier management in the climate change insurance industry

  • Parsyl raised $20 million in Series C financing in 2024 to expand climate-risk underwriting across supply chains and geographies.[23]
  • Arbol’s 2023 gross written premium transacted through climate-risk and reinsurance activities reached $250 million.[23]
  • Swiss Re’s New York flood solution combined Guy Carpenter brokerage, ICEYE satellite and sensor data, and a policy providing up to $1.1 million in emergency funding.[25]

Stakeholder management in the climate change insurance industry

  • Liberty Mutual reported partnerships with more than 30 organizations focused on climate resilience, nature-based solutions, sustainable infrastructure and workforce development in 2024.[62]
  • The PSI Nature-Positive Insurance Working Group brought together more than 40 global insurers in 2024.[63]
  • Liberty Mutual awarded 27 climate-resilience grants worth more than $3 million in 2024.[62]
  • The InsuResilience Global Partnership brought together more than 120 governments, civil-society organizations, academic institutions, nonprofits and businesses in 2024.[64]
  • Lloyd’s Disaster Risk Facility paid CHF15 million to fund International Federation of Red Cross and Red Crescent Societies disaster-response costs in 2024.[37]

Distribution channels in the climate change insurance industry

  • Arbol Insurance Services became an approved Lloyd’s coverholder in May 2023, supporting distribution of parametric climate products through the Lloyd’s market.[23]
  • Floodbase’s climate-insurance programmes had expanded to more than 40 countries and enabled over 9,000 flood-insurance policies by 2024.[23]
  • Lloyd’s and UNCDF used training workshops in Papua New Guinea and Fiji to build local capacity for parametric-insurance distribution in 2024.[37]
  • The SEWA parametric heat-insurance programme distributed payouts to more than 46,000 women through a community-based structure in South-East Asia in 2024.[25]

Key questions about the climate change insurance industry

How big is the comparable market for climate change insurance?
The report treats natural-catastrophe insurance as the most comparable measurable segment, with $424B protection gap in 2025 and $107B insured out of $220B economic catastrophe losses.
Is the market growing, and how fast?
Swiss Re projected insured natural-catastrophe losses to rise by 5%–7% annually in real terms, reaching about $145B in 2025 from $137B in 2024; this is a loss-growth outlook rather than a total premium forecast.
Which companies lead the climate change insurance industry?
Allianz and AXA are tied at the top of Gitnux's 2026 climate change insurance ranking with an Overall score of 9.1 each.
What technology shifts are shaping underwriting and operations?
Insurers are investing in better climate data and underwriting decision-support, with 79% prioritizing climate data, models and analytics for resilient infrastructure underwriting in 2026 and 79% investing in underwriting tools and decision-support systems.
How is the market structured across providers and capital?
The industry spans primary insurers, global reinsurers, brokers and capital-market investors rather than a single concentrated group; catastrophe-bond capacity shows this, with $61.3B outstanding at year-end 2025.
Where is demand weakest and what does that imply?
Demand remains uneven: EIOPA reported only 17% of European respondents held coverage for property damage caused by natural catastrophes in its 2025 Eurobarometer, aligning with protection gaps leaving almost three-quarters of exposure uninsured.
Reference

Cite This Report

This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.

APA
Samuel Norberg. (2026, November 11). Climate Change Insurance Industry Statistics. Gitnux. https://gitnux.org/climate-change-insurance-industry-statistics
MLA
Samuel Norberg. "Climate Change Insurance Industry Statistics." Gitnux, 11 Nov 2026, https://gitnux.org/climate-change-insurance-industry-statistics.
Chicago
Samuel Norberg. 2026. "Climate Change Insurance Industry Statistics." Gitnux. https://gitnux.org/climate-change-insurance-industry-statistics.

Sources & references

76 sources cited across this report

  1. news.ambest.com
  2. gsam.com
  3. insurancejournal.com
  4. insurancetimes.co.uk
  5. actuarialpost.co.uk
  6. epam.com
  7. eiopa.europa.eu
  8. bankofengland.co.uk
  9. insurancebusinessmag.com
  10. deloitte.com
  11. gartner.com
  12. media.milliman.com
  13. iais.org
  14. globalinfrafacility.org
  15. euspa.europa.eu
  16. insurity.com
  17. jpmorgan.com
  18. infinance.nl
  19. dnb.co.uk
  20. friss.com
  21. kpmg.com
  22. oecd.org
  23. insurtechinsights.com
  24. munichre.com
  25. swissre.com
  26. lloyds.com
  27. insuranceinstitute.ca
  28. assets.kpmg.com
  29. aon.com
  30. wfhresearch.com
  31. chicagofed.org
  32. hub.selbyjennings.com
  33. jacobsononline.com
  34. naceweb.org
  35. carriermanagement.com
  36. vermelorpo.com
  37. assets.lloyds.com
  38. apqc.org
  39. gallup.com
  40. guidewire.com
  41. csgi.com
  42. theinsurer.com
  43. cdn.mediavalet.com
  44. globaldata.com
  45. cmosurvey.org
  46. macquarie.com.au
  47. content.naic.org
  48. apnews.com
  49. insurance.ca.gov
  50. altiorem.org
  51. cbo.gov
  52. allianz.com
  53. zurich.com
  54. csrd.bwdstrategic.com
  55. gdv.de
  56. service.betterregulation.com
  57. ey.com
  58. pwc.com
  59. oaic.gov.au
  60. insurers.gallagherbassett.com.au
  61. internationalinsurance.org
  62. libertymutualgroup.com
  63. unepfi.org
  64. assets.ey.com
  65. artemis.bm
  66. marketscreener.com
  67. home.treasury.gov
  68. axa.com
  69. descartesunderwriting.com
  70. datanextresearch.com
  71. arbol.io
  72. celsiuspro.com
  73. meticulousresearch.com
  74. content.govdelivery.com
  75. carbonbrief.org
  76. elibrary.imf.org