Cyclone Burglind (aka Eleanor) to cost industry €756m
Extratropical Cyclone Burglind, also known as Eleanor, which hit the UK and Europe in January 2018, will cost insurers some €756 million, according to insurance data company PERILS’ final loss estimate.
This compares to the third loss estimate of €724 million which was issued by PERILS on 2 July 2018, six months after the event. The final loss number has been issued 12 months after the event, in line with the PERILS reporting schedule.
The low-pressure system associated with the storm was named “Burglind” by the Free University of Berlin and “Eleanor” by the Irish and UK national weather services. Relative to its size, Switzerland was the country most affected by the event, with more than two thirds of the country-wide insured values exposed to gust speeds in excess of 100km/h.
While the incurred industry loss levels for the other countries affected were not unusual, in the case of Switzerland, the Burglind event loss level would be expected to be reached or exceeded once in approximately 14 years.
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