Storms in the US last month will cost insurers at least $US2 billion ($2.63 billion), while the economic cost of floods in China will run even higher, according to Impact Forecasting’s monthly catastrophe recap.

On June 11 the upper-midwest states of Minnesota, Wisconsin and Michigan suffered powerful and fast-moving thunderstorms that caused about $US1.4 billion ($1.97 billion) of damage.

Meanwhile, floods hit southern China, killing at least 31 people and affecting more than 130,000 homes, according to the Aon Benfield subsidiary. Economic losses are estimated at more than $US2.4 billion ($3.6 billion), making it the costliest global natural catastrophe last month.

Thunderstorms brought hail damage to Germany and the Czech Republic on June 22, while Italy, Slovenia and Croatia suffered storm damage on June 25.

German insurers expect a bill of about €400 million ($601.5 million).

Severe storms and wildfires in South Africa are expected to cost insurers up to 4 billion rand ($392.32 million) – one of the nation’s biggest payouts for a natural disaster.

Other events last month included flooding and landslides in Bangladesh and northeast India, killing at least 169 people.

Other flood-related events occurred in Taiwan, Indonesia, Central America, Chile and west Africa.

Wildfires in Portugal killed 64 people and destroyed hundreds of homes and businesses, causing economic losses of about €497 million ($747.58 million).

Two tropical storms made landfall in North America but caused little damage, while an offshore, magnitude-6.3 earthquake damaged more than 1100 homes on the Greek island of Lesbos.