Gallagher Re, a global reinsurance broker and risk advisory firm, reports that a series of severe convective storm (SCS) outbreaks across central and eastern parts of the United States in April 2026 is expected to result in insured losses exceeding USD 1 billion.
The broker attributes the losses primarily to large hail, at least 124 confirmed tornado touchdowns and widespread straight-line wind damage.
The firm indicates that the overall economic cost will be higher once uninsured and underinsured exposures are taken into account, noting that riverine flooding across parts of the Midwest is likely to increase total losses beyond insured figures.
Gallagher Re also highlights that, despite consistently active thunderstorm conditions since early March, this has not yet resulted in unusually large insured or economic losses for the peril when viewed against recent years.
According to Gallagher Re, the outbreaks occurred in two main phases between 13–16 April and 17–18 April, producing widespread impacts across a large geographic area. The firm expects the most significant losses to be concentrated in Illinois, Wisconsin, Iowa, Michigan, Minnesota, Indiana and Ohio, although the overall footprint extended from Texas to New Hampshire. Gallagher Re characterises the event as another example of how convective storm activity can generate substantial aggregated losses without reaching record levels.
Gallagher Re identifies large hail as a key driver of claims, with numerous reports exceeding two inches in diameter and some reaching up to four inches, including impacts in populated areas near Madison, Milwaukee and Cleveland. The firm also confirms at least 124 tornado touchdowns during the period, spanning a range of intensities, with further assessments ongoing.
In its financial assessment, Gallagher Re reiterates that total economic losses will exceed insured losses due to the contribution of uninsured assets and post-event flooding. The firm notes that heavy rainfall following the storms led to rising river levels and property damage across Midwest communities, with multiple river gauges remaining at moderate or major flood stage in the days after the event.
Gallagher Re places the April outbreaks within a broader annual context, reporting that year-to-date insured losses from US severe convective storms are approaching USD 10 billion. This remains below the levels recorded by the end of April in recent years, including USD 23 billion in 2025, USD 20 billion in 2024 and USD25 billion in 2023. The firm also notes that the typical peak period for such activity runs from March to June, although significant outbreaks can occur at other times of the year.
From a geographic perspective, Gallagher Re highlights a concentration of activity in the Midwest so far in 2026, with Illinois recording the highest number of confirmed tornadoes to date. The firm also identifies Iowa, Wisconsin, Illinois and Minnesota as the states with the greatest number of large hail reports, while noting that Texas has experienced a comparatively quieter start to the year than is typical.
Gallagher Re attributes the meteorological conditions to a persistent trough over the western United States combined with a ridge of high pressure to the east, which enabled a sustained flow of warm, moist air from the Gulf. This pattern, according to the firm, created favourable conditions for repeated storm development, supported by low-pressure systems, frontal boundaries and dry lines. Gallagher Re records at least 1,337 severe weather reports across 23 states between 13 and 18 April, including hail, tornadoes and damaging winds, with a significant proportion involving large hail.
Gallagher Re describes the 17–18 April period as the most impactful phase of the event, supported by strong upper-level dynamics and resulting in widespread severe weather. The firm notes that more than 73 tornadoes were confirmed on 17 April alone, alongside extensive warning activity and reports of damaging winds reaching hurricane force in some locations. Impacts included damage to property and infrastructure, as well as disruption to transport, including operations at major airports.
In addition to wind and hail damage, Gallagher Re reports that heavy rainfall led to widespread flooding across parts of the Midwest, with several rivers reaching moderate to major flood stage. Some areas recorded more than six inches of rainfall during the event period, with cities such as Milwaukee and Green Bay setting new April rainfall records.
Overall, Gallagher Re concludes that the April outbreaks highlight the scale and frequency of severe convective storm risk in the United States, as well as the continuing gap between insured and total economic losses, particularly where flooding contributes to the overall impact.
