US severe weather insured losses approached $US1 billion ($973 million) last month and economic losses were even higher.

Widespread tornado, hail and wind damage across the central and southern United States hit homes and businesses and killed at least six people, Aon Benfield’s monthly Global Catastrophe Recap report says.

Insurers received 105,000 claims with payouts topping $US650 million ($632 million) for severe weather in Texas. Insured losses of hundreds of millions of dollars are expected after tornadoes in Kansas, Iowa and Oklahoma.

“While not as substantial as the historic 2011 season to this point in terms of overall losses, the 2012 severe weather season has certainly caused significant damage,” said Steve Jakubowski, President of subsidiary Impact Forecasting.

“Tornado frequency data dating to 1991 indicates that May is typically the most active tornado month of the year in the US, which is a warning to all residents and insurers.”

In South America, severe weather in Buenos Aires killed 18, injured 20 and affected 32,000 homes.

Flooding in Paraguay, Colombia and Peru killed 19 people and destroyed 25,000 homes.

In China, hail and winds across six provinces killed 12, damaged 45,000 homes and caused RMB1.28 billion ($198 million) in losses.

Wind and hail in Vietnam killed two people and caused 104 billion dong ($4.88 million) in losses. Typhoon Pakhar also damaged 5000 homes, killed two people and injured nine.

In Japan, a spring storm system cut electricity to 520,000 customers and delayed planes and trains.