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Europe suffers billion-dollar hail losses

The first month of the US hurricane season passed without incident, but insurers incurred billion-dollar losses from hail and thunderstorms in Europe and the US.

Parts of Germany, France and Belgium suffered significant hail damage, while crops and vineyards were destroyed in southwest France, according to Impact Forecasting’s Global Catastrophe Recap for last month.

The French Federation of Insurance Companies expects payouts of up to €900 million ($1.31 billion), the Aon Benfield subsidiary says.

It is the second consecutive year of major hail losses in Europe, after insurers paid $US4 billion ($4.27 billion) last year.

US insurers anticipate $US1 billion ($1.07 billion) of claims from tornadoes, hail and windstorms last month.

Monsoonal rains left dozens of people dead in China, causing more than $US2 billion ($2.13 billion) of flood damage. There is no figure for insured losses.