European storm loss estimate tops $1 billion
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Insured losses from winter storm Eleanor, which struck numerous countries in Europe earlier this month, will likely be between €1.1 billion ($1.32 billion) and €1.6 billion, AIR Worldwide said Thursday.
Most of the losses will be in Germany — where the storm is known as Burglind — France, the United Kingdom, Belgium, Switzerland and the Netherlands, the Boston-based catastrophe modeler said in a statement.
The storm, which was the fifth named winter storm of the season and the fourth to make landfall since December, brought wind gusts of up to 100 mph to Ireland early last week before it passed across the United Kingdom into Continental Europe.
“Structural damage due to strong winds was reported in Ireland, the U.K., France and Germany, where roofs were damaged or blown off, scaffolding was stripped from buildings, and signage was destroyed. Trees were blown down across continental Europe and the U.K., and transportation disruption was rampant,” AIR said.
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Storm Eleanor likely to cause $600 million in insurance loss
German actuarial consulting firm Meyerthole Siems Kohlruss expects storm Eleanor to cause around €500 million ($600 million) in insured and reinsured losses, Artemis reported. The storm is likely to cause around €200 million of insured losses in Germany alone, the firm said. The storm struck Ireland and the United Kingdom on Jan. 3, before moving to northern Europe, affecting Germany, France and the Benelux countries. The company expects storm Eleanor to cause the largest loss of the winter 2017/18 European storm season.
