Disasters last month are expected to cost insurers at least $US7 billion ($9.44 billion), according to Impact Forecasting’s latest Global Catastrophe Recap.

The Aon Benfield subsidiary says the Horse Creek fire in Fort McMurray, Canada, will become that country’s costliest disaster, with insured losses above $C4 billion ($4.23 billion).

However, other insurance groups’ estimates of insured losses from the Fort McMurray fire, which fire burned more than 580,000 hectares of land and destroyed more than 2400 homes, have been far higher.

Convective storms and flooding from Storm Elvira swept across Europe late last month and early this month, killing 17 people.

Germany, France, Austria, Poland and Belgium sustained the greatest damage, with floods affecting major metropolitan areas including Paris.

French and German insurance associations estimate combined minimum claims payouts will exceed €2 billion ($3.04 billion), with economic damage estimated at more than €4 billion ($6.09 billion).

The US experienced five severe convective storms last month that will cost insurers an estimated $US1 billion ($1.34 billion).

Parts of the plains, midwest and Mississippi valley regions suffered tornadoes, straight-line winds and hail, while floods hit Texas.

Cyclone Roanu brought torrential rain to Sri Lanka, eastern India, Bangladesh, Myanmar and China.

Widespread flooding and landslides killed at least 105 people in Sri Lanka alone, and nearly 125,000 homes and structures were damaged or destroyed across all five countries.

Insured losses were expected to be relatively small due to low penetration.

Five floods in China caused an estimated $US1.5 billion ($2.02 billion) of damage, mainly to crops. There were also major floods and landslides in Hispaniola, Kenya, Tajikistan, Afghanistan, Rwanda, Ethiopia, India and Yemen.

Earthquakes in Ecuador and China caused damage to homes and crops totalling $US61 million ($82.24 million).