German storm Xavier losses hit $344 million: Perils
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Extratropical Cyclone Xavier, which primarily affected Germany last month, caused an estimated €291 million ($344 million) in insured losses, Zurich-based catastrophe insurance market data firm Perils A.G. said Thursday.
Xavier was a fast-moving and violent storm that killed seven people in Germany on Oct. 5, Perils said in a statement. The storm hit early in the European winter storm season when many trees were still heavy with leaves and more prone to being blown over than in winter.
Damaging gusts occurred along a narrow corridor about 155 miles wide that ran from Hamburg to Berlin and affected the German states of Hamburg, Lower Saxony, Saxony-Anhalt, Brandenburg and Berlin. Intense winds rolled over northern and eastern Germany for about 14 hours, reflecting Xavier’s rapid passage, Perils said.
Perils said it will release an updated estimate of the Xavier market loss on Jan. 5.
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Insured losses from storm Xavier likely to exceed $230 million: Official
Onnen Siems, chief executive of Germany-based actuarial firm Meyerthole Siems Kohlruss, said that storm Xavier is likely to have caused up to €200 million ($234.6 million) in insured and reinsured losses, Artemis.bm reports. The storm struck parts of northern Germany on Oct. 5 with winds nearing hurricane strength in Berlin. The total loss for insurers and reinsurers is expected to rise as the storm also hit the Netherlands, Mr. Siems said.
