Global natural and man-made catastrophe insurance losses totalled $US21 billion ($22.5 billion) in the first half, down from $US25 billion ($26.8 billion) in the corresponding period last year, Swiss Re says.

Natural catastrophe losses fell to $US19 billion ($20.4 billion) from $US21 billion ($22.5 billion).

Losses, which were relatively low compared with the past few years, were mainly driven by extreme weather in the US.

Snow in Japan also prompted claims, while western Europe endured a second consecutive year of intense storms, leading to significant property and vehicle damage in France, Germany and Belgium.

Total economic losses from disasters totalled $US44 billion ($47.2 billion) in the first half.

“Once again floods took lives and inflicted extensive property damage in several regions of the world in the first half,” Swiss Re says.

In May heavy flooding in Serbia, Bosnia, Croatia and eastern European countries led to total economic losses of $US4.5 billion ($4.8 billion), but insurance losses were moderate given low market penetration.

US thunderstorms and hail in May caused insured losses of $US2.6 billion ($2.8 billion).

Storm Ela in Europe and a snowstorm in Japan in February each caused insured losses of $US2.5 billion ($2.7 billion), while a January snowstorm in the US totalled $US1.7 billion ($1.8 billion). Thunderstorms and tornadoes in the US in May caused insured losses of $US1.1 billion ($1.2 billion).