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Member, Beacon International Group, Ltd.
EDINBURGH, Scotland—There are unlikely to be significant insured losses from the windstorm that hit Scotland and parts of northern England last week, according to Willis Re.
Willis Re, the reinsurance brokerage arm of Willis Group Holdings P.L.C., said that although Windstorm Friedhelm reached hurricane force in certain areas, such as the Cairngorms, much lower gusts were experienced in more densely populated, low-lying areas such as Edinburgh.
The size of the insured loss from the storm is likely to be reduced by superior roof and building design in Scotland and northern England, according to Tim Edwards, a divisional director at Willis Re in London.
The storm is likely to cause insured losses similar to those experienced after Windstorm Elaine, which hit the United Kingdom in 2008 and caused about £130 million ($203.7 million) in claims, said Robert Rogers, executive director of Willis Re’s U.K. team.
The storm is unlikely to have any impact on Jan. 1 reinsurance renewals, Mr. Rogers said.
He added that Willis would be assessing the impact of further storms forecast to hit the United Kingdom this week.