PARIS—Risk Management Solutions Inc. said Thursday it estimates private-market insured losses from Windstorm Xynthia will be between €1 billion ($1.36 billion) and €2 billion ($2.72 billion).

The estimate includes wind damage to property, auto and forestry in France, Germany, Belgium, Luxembourg and the Netherlands, and covers the potential impacts of post-event loss amplification, including a large demand in the surge for building materials and business interruption costs resulting from the storm, RMS said in a statement.

The losses were based on the catastrophe modeler’s western Europe windstorm model.

RMS said the estimate does not include losses from wind damage to infrastructure, and losses in Spain were excluded as it has not been determined how much of Spain’s damage will be covered by the public catastrophe pool.

Xynthia, compared to Windstorm Klaus in 2009, was less severe but resulted in much more widespread damage, Newark, Calif.-based RMS said in a statement, noting that insured losses for Klaus were around €1.5 billion ($2.04 billion).

“There are limited observations of severe wind damage from Xynthia,” said Stefan Beine, senior director of model product marketing at RMS, in a statement. “Our reconnaissance teams have predominantly seen minor roof damage, including in the towns and villages close to where the highest peak gusts were recorded.”