Perils estimates Xaver caused $929.6M in insured damage
Reprints
December's Windstorm Xaver caused an estimated €680 million ($929.6 million) in insured damage in Western and Northern Europe, according to an initial loss estimate released Thursday by Zurich-based Perils A.G.
Xaver — which was also known as Sinterklaasstorm in the Netherlands, Bodil in Denmark and Sven in Sweden — struck Dec. 5-6. According to Perils, the majority of the losses occurred in Denmark, Germany, Norway, Sweden, the Netherlands and the United Kingdom.
Perils said its market loss estimate is based on ultimate gross loss data as reported by primary insurance companies and excludes losses indemnified by government plans.
Perils is an independent organization that provides industrywide catastrophe insurance data.
Last month, Boston-based catastrophe modeler AIR Worldwide Corp. estimated that Xaver's insured damages would range between €700 million ($956.9 million) and €1.4 billion ($1.91 billion).
Read Next
-
U.K.: Fierce storm hits northern Britain, disrupts transport services
Storm Xaver disrupted transport services and cut power supplies in northern Britain before blasting towards mainland Europe, Reuters reported.
Related Stories
-
U.K.: Fierce storm hits northern Britain, disrupts transport services
-
Credit Suisse estimates insured loss from European windstorm Xaver at $1.9 billion to $2.6 billion
-
