Brazil faces billions in losses after deadly thunderstorms strike south

Severe thunderstorms struck southern Brazil on November 7, causing widespread damage across Paraná, Santa Catarina, and Rio Grande do Sul. Gallagher Re projects escalating insured and uninsured losses as a result of the storm activity.

Local authorities reported seven deaths and hundreds of injuries across the affected states. In Rio Bonito do Iguaçu, officials estimate that between 80% and 90% of buildings in the urban area were damaged. More than 1,000 residents were displaced, and the municipality, with a population of about 14,000, declared a state of calamity. An initial BRL 50 million was released for reconstruction efforts.

Damage spans agribusiness, commercial properties, power networks, and other infrastructure. Early assessments indicated at least eight tornadoes touched down in the region, with Rio Bonito do Iguaçu suffering the most extensive destruction. Gallagher Re’s preliminary scenario-based analysis estimates residential economic losses at about BRL 300 million, based on roughly 3,500 affected homes, including 640 fully destroyed and the remainder requiring major repairs.

Get the latest reinsurance news direct to your inbox twice a week. Sign up here

Summary: The severe weather caused significant casualties and widespread structural damage across southern Brazilian states, with substantial projected economic losses and ongoing reconstruction needs, according to Gallagher Re.

Insurance Business America — 2025-11-19

More News