Perils increases insured loss estimate for Cyclone Friederike

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.