european windstorm

Catastrophe risk modeller RMS has estimated that insurance and reinsurance markets face losses of up to EUR 4.5 billion from recent European windstorms Dudley (Ylenia) and Eunice (Zeynep), while Eunice alone could be as high as EUR 3.5 billion, the modeller believes.

Verisk Extreme Event Solutions, the new brand name for catastrophe risk modeller AIR Worldwide, has estimated the insurance and reinsurance market loss from the two most severe recent European windstorms, Dudley (Ylenia) and Eunice (Zeynep), will reach as high as EUR 5 billion.

Recent severe European windstorm activity from storms Dudley, Eunice and Franklin (Ylenia, Zeynep and Antonia) could drive losses of as much as EUR 5 billion for German, UK and Dutch insurers, Fitch Ratings has warned, but reinsurance could take the lions share.

Forecasts for insurance and reinsurance market losses from the recent spell of severe European windstorms are heading towards EUR 3 billion (approx. US $3.4bn), as reports coming from the UK, Germany and the Netherlands alone get close to that number.

Catastrophe bonds covering pure European windstorm risks are not expected to face any direct losses after the last few days of severe storms that blew across the continent, but there are implications for aggregate retrocession cat bonds, according to Plenum Investments.

Insurance and reinsurance markets are facing losses into the billions after the impacts of two severe European windstorms, Dudley (Ylenia) and Eunice (Zeynep), while the jet stream continues to drive low pressure systems across the Atlantic and towards the continent.

Italian and global insurance giant Assicurazioni Generali S.p.A. has confirmed to investors in its EUR 200 million Lion III Re DAC catastrophe bond that European windstorm Bernd and related floods in July 2021 are not a covered event for noteholders to be concerned about, this publication has learned.

European extratropical windstorm Hendrik- Ignatz, which was also known as Aurore, impacted north-western and central Europe between the 20th to 21st October 2021 and is the first storm of the season to drive an industry loss in the hundreds of millions of Euros.

The successful placement at low-pricing of the first green catastrophe bond occurred during an extremely active marketplace for cat bonds, noted joint bookrunner and green coordinator French financial services firm Natixis.

Italian and global insurance giant Assicurazioni Generali S.p.A. has hailed the successful completion of its first green catastrophe bond issuance, the EUR 200 million Lion III Re DAC transaction.