Cyclone Friederike insured losses reach €1.63bn
The re/insurance industry loss from extratropical cyclone Friederike (also called David) has reached €1.63 billion, according to Zurich-based catastrophe insurance data provider PERILS.
PERILS has disclosed its second loss estimate for Friederike that caused significant damage across the UK, Belgium, the Netherlands and Germany on Jan. 17 and 18, 2018.
In February, PERILS estimated the re/insurance industry loss from Friederike at €1.47 billion.
Friederike was one of the strongest since windstorm Kyrill struck 11 years ago, which at the time generated a Europe-wide insured property market loss of €3.66 billion, based on PERILS data.
Friederike's strong winds tore across Western Europe causing severe damage and disruption, bringing the Netherlands and the German states of North Rhine-Westphalia, Hesse, Saxony Anhalt, Thuringia and Saxony to a virtual standstill.
The storm also resulted in the death of eight people in Germany, three in the Netherlands and one in Belgium.
Join us at Intelligent Automation in Insurance - April 26th 2018, London: Book now.
More of today's news
Allianz sells 33% in China unit
Lloyd’s MS Amlin Underwriting gets downgraded due to losses
AXA backs MGA Gresham Underwriting
Ex-CIRC chairman charged with fraud
The Hanover expects up to $76m nat cat costs in Q1
Lockton picks new chief digital officer to drive innovation
Marsh partners in commercial blockchain solution for proof of insurance
Monument Re acquires run-off portfolio from Belgian insurer Ethias
Sunderland Marine CEO steps down
BAM seals collateralized reinsurance agreement with Fidus Re
