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Vietnam suffers rare billion-dollar cat loss

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Typhoon Damrey caused $US1 billion ($1.33 billion) of damage in Vietnam after it made landfall last month, according to Aon Benfield subsidiary Impact Forecasting.

It marked a “rare billion-dollar economic loss event” in the country, the catastrophe modeller says.

At least 108 people died and more than 3560 homes were destroyed when the storm hit southern Vietnam on November 4.

Elsewhere last month, thunderstorms in the US midwest and northeast cost private insurers almost $US200 million ($266.4 million), with economic losses at $US275 million ($366 million).

A 7.3-magnitude earthquake near the border between Iran and Iraq caused up to $US740 million ($986 million) of damage in Iran.

Australia had no significant natural disasters last month.