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ZURICH—Last month’s Windstorm Joachim in western Europe caused an estimated €300 million ($387.9 million) in insured damage, according to Zurich-based Perils A.G.
Perils, an independent organization that provides industrywide natural catastrophe exposure and claims data, said the majority of the losses from the Dec. 15-17, 2011, windstorm occurred in France. Perils also noted that Germany and Switzerland sustained losses from the windstorm.
The estimate is based on loss data provided by primary insurers and excludes losses indemnified by the French government’s natural catastrophe fund.