Insured loss projection for Dragi-Eberhard storm declines

Perils A.G. has lowered its estimate of the insured property market loss from windstorm Dragi-Eberhard to €772 million ($852.6 million).

The latest estimate compares to the initial loss estimate of €740 million issued by Perils on April 18, and its €798 million estimate issued on June 7, the Zurich-based catastrophe loss data company said Monday in a statement.

The storm affected the British Isles and Western and Central Europe on March 9 and 10, with the majority of the losses occurring in Belgium, France and Germany, while the United Kingdom, the Netherlands, Luxembourg and Switzerland were affected to a much less degree. It was the largest windstorm of the 2018-2019 European extratropical cyclone season, according to Perils.

An updated estimate for Dragi-Eberhard will be published on March 9, 2020.