Aon’s June Catastrophe Report Outlines $500M Insured Losses After U.S. Storms

China’s monsoon losses approached $4 billion and the U.S. sustained nearly $500M in insured losses as a result of severe storms in June, according to Impact Forecasting’s latest edition of its monthly Global Catastrophe Recap report.

The report evaluates the impact of the natural disaster events that occurred worldwide during June 2015.

The report reveals that seasonal monsoon rains led to widespread flood and landslide damage across Asia during the month, including in China, where at least 50 people were killed and 100,000 homes damaged or destroyed. According to the Ministry of Civil Affairs, total aggregate economic losses reached almost $4 billion.

Elsewhere, areas of South Asia and Africa were impacted by monsoon-triggered floods that resulted in more than 140 fatalities in Bangladesh, India, Myanmar, Nepal, and Côte d’Ivoire. New Zealand’s North Island was also inundated, with one particular event causing estimated economic losses in excess of NZD120 million (US $82 million). Early data from the New Zealand Insurance Council cited more than 2,000 filed claims.

Further key natural peril events that occurred during June included:

Source: Aon