Insurance industry losses from severe convective storms in the United States have now topped $22 billion as of June 18th, according to Gallagher Re. While this already makes 2026 the 11th consecutive year with annual US SCS insured losses of more than $20 billion, the tally so far is below the 5-year and 10-year H1 averages.
Recent severe convective storms (SCS) convective storm activity has driven additional billions of insurance market losses, the reinsurance broker explained in a new commentary.
Discussing SCS activity in the US and Canada through June 2026 so far, Gallagher Re’s experts explain, “The first two weeks of June brought nearly daily outbreaks of severe convective storm (SCS) activity that affected several major metro areas from the Rockies to the Northeast in the United States. The stretch featured dozens of confirmed tornado touchdowns, destructive large hail, damaging straight-line winds (including a confirmed derecho on June 10), and flash flooding.”
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