Perils increases insured loss estimate for Cyclone Friederike
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Perils A.G. has raised its estimate of the insured property market loss from Cyclone Friederike, also known as David, to €1.675 billion ($1.960 billion).
The estimate is an increase from the initial €1.465 billion estimate released on Feb. 28 and the €1.629 billion estimate released on April 17.
The storm caused significant damage across the British Isles, Belgium, the Netherlands and Germany on Jan. 17 and 18, the Zurich-based catastrophe loss data company said Tuesday in a statement.
A final loss estimate will be published Jan. 17, 2019.
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Storm Friederike causes up to $1 billion in insured losses
Insurance industry experts said that storm Friederike is likely to have caused up to €800 million ($980 million) in insured losses in Germany, Reuters reported. The storm toppled trees and blew trucks off the road in Germany on Jan. 18. The German insurance association said that the storm caused an estimated €500 million in insured losses, while actuarial firm Meyerthole Siems Kohlruss said that the storm is likely to have caused losses of €800 million.
