Insured loss estimate for Storm Desmond lowered to $938.5 million: Perils

Perils A.G. has lowered the insured and reinsured loss estimate for European windstorm Desmond to £662 million ($938.5 million), Artemis.bm reported.

Storm Desmond hit the United Kingdom on Dec. 4, 2015, causing widespread flooding.

Perils had earlier estimated insured and reinsured losses of £717 million from Desmond.

Perils will place its third flood loss estimate for Desmond on June 4.

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