March European windstorm damage estimated at $955.5 million
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Perils A.G. on Monday issued an initial loss estimate for insured property damage caused by windstorms Mike and Niklas of €853 million ($955.5 million).
Zurich-based catastrophe insurance data company Perils said Monday that the majority of losses from the combined storms, known as Lentestorm in the Netherlands, occurred in Germany.
Losses also occurred in Austria, Belgium, the Netherlands, Switzerland and the United Kingdom.
Storms Mike and Niklas occurred in rapid succession and affected similar areas in late March, Perils said, and so in some instances it is not possible to allocate specific insured losses to either of the events.
“There are two factors which distinguish Mike-Niklas from other events,” Edi Held, head of product at Perils, said in a statement. “Firstly, its late occurrence date during the European windstorm season and secondly, in Germany, virtually every part of the country experienced damaging gusts in excess of” 50 miles per hour,” he said.
“The last time Germany experienced damaging winds across such a broad area was during Windstorm Kyrill in January 2007, although the winds there were even stronger,” Mr. Held said.
Perils will update its loss estimate for Mike-Niklas on June 29.
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