Storm Friederike industry loss rises 11% to EUR 1.629bn ($2.02bn)

The insurance and reinsurance industry loss estimate for extratropical cyclone, or European windstorm Friederike (David), has been increased by approximately 11% to EUR 1.629 billion (approximately US $2.02 billion) by PERILS AG.

Windstorm Friederike struck northern Europe in January, causing significant damage as it tracked across European countries including the British Isles, Belgium, the Netherlands and Germany on 17th and 18th January, 2018.

PERILS provided its initial estimate of EUR 1.465 billion (approximately US $1.8 billion) in late February, 2018, with that figure now rising by just over 11%, or EUR 164 million (approximately US $203 million).

PERILS explained previously that the majority of the insurance industry loss from the windstorm took place in Germany and the Netherlands.

Now at EUR 1.629 billion, Friederike is one of the largest European windstorm losses in recent years, and it’s possible for this number to increase further when PERILS releases its third loss estimate on July 17^th, 2018, six months after the event.

Friederike’s winds, which were particularly strong in the Netherlands and Germany, where a record gust of 203km/h was registered on the Brocken mountain in the state of Saxony-Anhalt, resulted in severe damage and disruption, bringing a number of states in both the Netherlands and Germany to a halt.

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Also read:

– Storm Friederike loss over €1.14bn in Germany & Netherlands alone.

– Windstorm Friederike industry loss from EUR 1.3bn to 2.6bn: AIR.

– Storm Friederike insured loss put at EUR 800m in Germany: Actuaries.