Australasia and Asia suffered 23% of all global insured losses last year, according to Guy Carpenter.

November’s super-cell thunderstorm in Brisbane made a significant contribution, with insured losses of $US820 million ($1.08 billion), the reinsurance broker says in a report published this month.

Baseball-size hail, strong winds and heavy rainfall inflicted widespread damage, including in the CBD.

However, this was overshadowed by the most costly event in the region – significant snowstorms that hit Japan early in the year. Hundreds of thousands of people lost power and businesses including Suzuki, Honda and Toyota were disrupted.

One storm brought 27cm of snow to Tokyo, the most significant snowfall in 45 years, and insured losses reached $US3.1 billion ($4.07 billion).

Cyclone counts were below average for the season, and for the first time in 60 years no new tropical cyclones developed in August in the northwest Pacific Basin.

However, five cyclones hit China last year, with Typhoon Rammasun causing insured losses of $US250 million ($328 million) in July. Catastrophic flooding hit the India-Pakistan border in September, resulting in insured losses of $US645 million ($847 million), and the year ended with significant flooding in Thailand and west Malaysia.

Heavy monsoon rains in December displaced tens of thousands of people, but it is too early to determine the full impact of this event, Guy Carpenter says.