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Perils boosts property loss projection for cyclone Xavier

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Perils A.G. has increased its estimate of the property insurance market loss caused by extratropical cyclone Xavier to €325 million ($391.1 million).

The loss projection for the storm, which affected Germany in October, increased from the initial loss estimate of €291 million issued by Perils on Nov. 16, according to a press release published Friday by the Zurich, Switzerland-based catastrophe loss data company.

An updated loss estimate for Xavier will be published April 5.