European windstorm Thomas, or Doris is expected to result in an insurance industry loss in Germany of around €100 million (US$105.8mn), according to Meyerthole Siems Kohlruss (MSK).
The Cologne, Germany domiciled actuarial consulting firm, MSK, has provided an initial insurance industry loss expectation of roughly €100 million in Germany, as a result of the damage caused by European windstorm Thomas.
Chief Executive Officer (CEO) of MSK, Onnes Siems, said; “Much like his predecessor EGON in mid-January, THOMAS was also fast-paced,” and continued to explain that the firm expects it to cost the German insurance industry “around €100 million.”
Impact Forecasting, the catastrophe risk modelling arm of reinsurance broker Aon Benfield, said recently that storm Thomas, or Doris as it was named in the UK, could be the most damaging storm of the 2016/2017 winter storm season, after impacting parts of the UK over the 22nd and 23rd of February, before heading across the North Sea.
The storm struck parts of Germany over Thursday night and into Friday on February 23rd and 24th, 2017.
MSK explains that the storm’s main wind field stretched from North Rhine-Westphalia to Saxony, and even in the lowlands gusts of up to 100 kmh were recorded.
PERILS AG announced recently that windstorm EGON, which struck parts of France and Germany, is expected to result in an insurance and reinsurance industry loss of roughly €212 million, and MSK put the Germany insured loss for the storm at around €100 million.
So according to analysis from MSK two storms in what’s been a fairly quiet 2016/2017 winter storm season in Europe, are likely to result in a combined insurance and reinsurance industry loss in Germany, of roughly €200 million.