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Member, Beacon International Group, Ltd.
Damage from windstorm Niklas is unlikely to result in enough insurance or reinsurance losses to trouble catastrophe bonds, Artemis.bm reports.
Storm Niklas caused huge damage across several European nations, particularly Germany. Economic damage and effects from disruptions in Germany has been pegged at about €100 million ($108 million). "We do not expect that the insured losses caused by Niklas will come close to the levels which would be necessary to trigger notional losses of cat bonds," Switzerland-based Plenum Investments A.G. said.