Oakland, Calif.-based EQECAT said, that “based on its simulation of last week’s European winter storm Kryill, including currently available information provided by several European meteorological services, initial estimated insured losses in Western Europe range from about €2.5 billion to about €5 billion ($3.25 billion to $6.5 billion).
“Based upon available data, Germany is expected to be the largest contributor to the losses from this event.”
The bulletin noted that “a loss of the estimated severity constitutes a European market loss with a recurrence interval of approximately 7 years to 10 years.”
EQECAT indicated that it will “continue to monitor storm information as it becomes available.”
Was this article valuable?
Here are more articles you may enjoy.