European windstorm loss estimate hits $248 million

Perils A.G. has raised its insured property loss estimate for Windstorm Egon to €234 million ($247.8 million).

The loss estimate was increased from the initial projection of €212 million ($225.0 million) issued in February for the January windstorm, which caused heavy rain and snowfall in France and Germany, the Zurich-based catastrophe loss data company said Wednesday in a statement. 

The third insured loss estimate for Egon will be published on July 12.