Severe thunderstorms in the month of June have led to over $3bn of insured losses, according to estimates by Aon.
Aon said eight separate weather outbreaks in the US last month caused $4bn in economic damage. Insurers are expected to pick up three quarters of the bill.
Thunderstorms which led to convective storms and flash flooding caused the bulk of the damage.
Straight-line winds and large hail which fell during the storms – up to softball-size in some instances – impacted areas in the Rockies, Plains, Midwest, Southeast, and the Northeast.
Colorado was one of the hardest hit states, where separate major hail storms struck the metro areas of Denver, Boulder, and Colorado Springs.
A 5.5 magnitude earthquake, which struck Japan’s Osaka Prefecture on 18 June took the lives of at least four people and injured more than 434 others.
Aon said 78,838 claims had already been filed, with pay-outs so far standing at $125mn. The broker said overall economic losses would be much higher.
In Europe, Aon said prolonged stretches of severe weather left widespread wind, hail and isolated flood damage across several European countries in during the first week of June.
France, Germany, the Netherlands, Luxembourg, Czech Republic and Austria all sustained damage from the severe rainfall.
Aon pegged aggregated losses related to severe weather activity across Europe throughout June to be in the hundreds of millions.