March was an expensive month for Europe as wintry weather contributed to economic losses of €1.4 billion ($1.7 billion), a report by Aon Benfield’s Impact Forecasting shows.

Heavy snow, ice, high winds and flooding hit the continent – with France, Germany and Ukraine most affected.

Thirty people died across Europe, while the early economic loss estimate for France alone is €706 million ($875 million).

More than 100,000 insurance claims were filed in France, with motor claims of more than €101 million ($125 million).

Heavy snow also hit northern Japan, where nine storm-related deaths were recorded and more than ¥1.36 billion ($13.5 million) was spent on the clean-up.

Wintry storms also hit central and east US, with combined losses of $US100 million ($96 million) and five deaths caused by snow and coastal flooding.

However, the extended northern winter has not badly affected the industry, according to Impact Forecasting President Steve Jakubowski.

“The level of losses sustained has not been overwhelming… despite the volume of events during the first quarter,” he said.

A derecho event created hail and wind damage across the southeast US, with Mississippi badly hit and about 50,000 claims expected. Economic losses in the region topped $US250 million ($240 million), with insurance losses of about $US150 million ($144 million).

However, the US also experienced the lowest number of tornadoes since 1978, with only 17 recorded in March.

In Australia a tornado hit northeast Victoria and southwest NSW, injuring at least 25 people and causing economic losses of about $20 million.

Three people were killed by high winds and torrential rain on the Azores islands of Terceira and Sao Miguel in the North Atlantic, with economic losses of €35 million ($43 million).

Hail, wind and tornadoes killed 29 people in China, damaging or destroying 331,250 homes and causing economic losses of $US443 million ($424 million).

A magnitude-5.2 earthquake hit China’s Yunnan province, injuring at least 30 people, destroying 2108 homes, damaging 83,434 properties and contributing to total economic losses of 350 million yuan ($54 million).