The Los Angeles wildfires and severe thunderstorms left the US with the largest share of global natural disaster losses in the first half.

The country accounted for $US71 billion ($110 billion) of the total insured loss of $US80 billion ($124 billion) in the period, Munich Re’s NatCat Report says.

The global figure compares with $US64 billion ($99 billion) in the first half of last year.

The California blazes caused the worst wildfire losses on record, with payouts of $US40 billion ($62 billion).

The Munich Re board of management warns fires are becoming more likely because of global warming. The LA fires occurred in winter, which is usually rainy and windy; there was little rain last year, but strong winds spread the flames.

In Australia, Cyclone Alfred led to overall losses of about $US3.5 billion ($5.2 billion), of which $US1.4 billion ($2.1 billion) was insured.

The report notes the cyclone was unusual in tracking far south.

“Research suggests that tropical cyclones could threaten this densely populated region more frequently in future as a result of climate change.”

Munich Re management board member for the Asia-Pacific, Middle East and Africa regions Achim Kassow says the report shows the need to invest in risk mitigation to reduce deaths and keep insurance affordable as the climate shifts.

Losses in the Asia-Pacific region and Africa were slightly below the 10-year average.

From the latest Insurance News magazine: Find out just how close the east coast came to disaster when Cyclone Alfred swept ashore