Insured losses from the costliest wildfires in the US since 2007 are forecast to exceed $1.1 billion.

More than 2,000 homes were destroyed by the most destructive fires to the northwest of San Francisco and southwest of state capital Sacramento.

Four people died and 1,958 homes and other structures were destroyed in the Valley fire, north of San Francisco, which was the third-most damaging wildfire in California’s history. It caused economic losses topping $1.5 billion, of which $925 million are estimated as insured losses.

The Butte fire, near Sacramento, killed two people and destroyed 475 homes, causing economic losses of $450 million, and insured losses estimated at more than $225 million.

For insurers, the California wildfires were among the most significant loss events of September.

The Illapel earthquake in Chile caused economic losses estimated at about $1 billion, with insured losses likely to total “hundred of millions,” according to Aon Benfield’s latest Global Catastrophe Recap report.

Everest Re and Aspen Insurance Holdings are among the insurers and reinsurers who have stated they face claims related to the magnitude 8.3 earthquake, which struck on September 16.

Elsewhere, drought conditions in western Canada, particularly Alberta, have battered the agricultural sector and caused economic losses of $1 billion. The Agriculture Financial Services Corporation is expecting crop insurance payouts to total between $500 and $625 million in Alberta alone.

In Asia, Japanese insurers are expected to payouts totalling $250 million in relation to floods and landslides during the early part of September.

While the worst wildfires in almost 20 years in Indonesia caused direct and indirect economic losses of $4 billion. The level of insured losses is not known.