Insured losses from a heavy snow season in the US that left 72 people dead are likely to exceed $US1 billion ($1.29 billion), according to Impact Forecasting’s latest Global Catastrophe Recap.

Boston registered its snowiest and second-coldest February, and the winter is poised to challenge that of 1995/96 as the snowiest on record.

“Prolific winter weather highlighted a very active February for the eastern half of the US,” Impact Forecasting meteorologist Steve Bowen said.

Five stretches of winter weather engulfed central and eastern states last month, bringing heavy snow, freezing rain and ice, Impact’s parent Aon Benfield says. Buildings collapsed, power was lost and travel disrupted.

Mr Bowen says if cool weather lingers into the US spring, the tornado count may remain historically low for a fourth consecutive year.

In Australia cyclones Lam and Marcia made landfall on February 20.

Insured losses from Marcia reached $US69 million ($89.65 million) by March 4. The Insurance Council of Australia has since updated this estimate to $130.5 million, from 17,400 claims.

In Indonesia, Jakarta suffered floods on February 8 that affected 10,000 residents and 75,000 businesses, killing six. Economic damages are estimated at $US235 million ($305.42 million).