Cyclone Xavier insured losses estimated at $373M: Perils
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Insured property market loss for Extratropical Cyclone Xavier, which hit Germany on Oct. 5, 2017, is estimated at €324 million ($373.4 million), Zurich-based Perils AG said in a statement Thursday.
The estimate is based on loss data collected from affected insurers, according to Perils, which provides industry-wide catastrophe insurance data, the statement said.
This final loss estimate, issued 12 months after the event in line with the Perils reporting schedule, is almost identical to the loss estimate of €325 million issued by Perils on April 5, 2018, six months after the event, the statement said.
Xavier, a “fast-moving and violent storm” that killed seven in Germany, occurred early in the European winter storm season, the statement said.
Damaging wind affected the states of Hamburg, Lower Saxony, Saxony-Anhalt, Brandenburg and Berlin, the statement said.
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