RMS reduces Kyrill estimate

Risk Management Solutions Inc. has reduced its estimate for total insured losses from Windstorm Kyrill to between €3 billion and €4 billion.

The Newark, California-based modeling company initially had estimated losses to be between €3 billion and €5 billion.

In a statement, RMS said that the storm caused "relatively low levels of damage over a very large area, covering nine major European countries" on January 18.

RMS said that collation of damage and loss information since then had allowed it to reduce the uncertainty in its initial estimate.