A freak series of avalanches in Switzerland triggered $720 million of damage earlier this year, a prominent Bermuda-based reinsurer has estimated.

PartnerRe's preliminary estimates tallied up $170 million in direct damage and $550 million in indirect -- but not all of that was insured.

At this stage the global reinsurer puts the total expected insured loss between $135.5 million and $181 million.

And this does not include the damage suffered from heavy snowfall and avalanches in the French, Austrian and Italian Alps.

Tourism losses for all areas are estimated to be extremely high.

The physical losses adding up in Switzerland are staggering.

A destroyed cable-car station in Wengen, Switzerland was a particularly costly loss, estimated at between $4.5 million and $5.5 million.

And in Leukerbad an artificially sparked avalanche wrecked one building and caused damage to five others at a total cost thought to be around $4.7 million.

Heavy snowfalls at the end of February also impacted on Swissair which in one day alone only flew one in ten of its scheduled flights.

The airline's loss of revenue is estimated to have reached $20 million.

It is thought no figure for the total cost of damage in France, Austria and Italy will be available for months although the cost of isolated incidents already suggests the total figure will be large.

In Austria extended coverage for the damage avalanches can inflict on buildings is rarely purchased despite the fact that fire policies do not automatically include this weather pattern.

This would make the insured losses quite small, and a Government-sponsored catastrophe fund would fork out the cash for losses in most cases.

But damage in Austria was extensive and concentrated in a handful of villages.

Damage to buildings in two villages is expected to add up to $14 million while many cars there were completely destroyed.