Cyclone Friederike insured loss estimate rises: Perils
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Cyclone Friederike, which swept through central Europe in January, caused an estimated €1.63 billion ($2.01 billion) in insured property losses, catastrophe insurance market consultant Perils A.G. said Tuesday.
Friederike, also known as David, hit the British Isles, Belgium, the Netherlands and Germany on Jan. 17-18, Zurich-based Perils said in a statement. The storm caused at least 11 deaths, according to news accounts.
In February, Perils put its initial estimate of the insured property market loss from Friederike at €1.47 billion. The consultant said it will release its third estimate on July 17, six months after the storm.
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Storm Friederike causes up to $1 billion in insured losses
Insurance industry experts said that storm Friederike is likely to have caused up to €800 million ($980 million) in insured losses in Germany, Reuters reported. The storm toppled trees and blew trucks off the road in Germany on Jan. 18. The German insurance association said that the storm caused an estimated €500 million in insured losses, while actuarial firm Meyerthole Siems Kohlruss said that the storm is likely to have caused losses of €800 million.
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