Bermuda’s PartnerRe Ltd. announced that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50 and $65 million.
“Windstorm Kyrill battered the U.K., France, the Netherlands, Germany and several other Northern and Central European countries with winds over 80 miles per hour, causing severe and widespread damage and human casualties,” said the bulletin.
PartnerRe indicated that it expects claims “from several European countries with the largest number from Germany and Austria.”
The Company,a leading multi-line reinsurer in Europe, said its loss estimate “is based on the assessment of individual treaties as well as client data. Kyrill losses are expected to be contained within our Worldwide Specialty (including catastrophe) and Global Property & Casualty sub-segments.”
Was this article valuable?
Here are more articles you may enjoy.