Insurance losses from Hurricane Ida are estimated at $US28-30 billion ($38-41 billion) on an industry level, Swiss Re said today.

Ida, the second-most intense hurricane on record to hit the US state of Louisiana, also caused extensive wind and flood damage across the Eastern and Mid-Atlantic parts of the US.

The hurricane made landfall with category four strength on August 29, causing wide-ranging power outages and severe infrastructure damage, particularly in Louisiana. The remnants of Ida also triggered flash flooding and storm surges in the US northeast.

The insured loss estimate excludes the National Flood Insurance Program.

Ida followed severe flooding in Europe in July, which Swiss Re says is likely to generate total insured market losses of about $US12 billion ($16 billion).

Swiss Re estimated its own preliminary claims burden from Ida at about $US750 million ($1.02 billion), net of retrocession and before tax, and updated its loss estimate for the July floods to about $US520 million ($707 million).