hail

German insurance industry association the GDV has said today that it expects insurers will face at least $510m (EUR450m) of losses due to storm Elvira’s impacts which struck the country from the 27th to 30th May.

According to the Insurance Council of Texas the insurance and reinsurance industry is set to pay for more than $2 billion of the losses caused by the severe hailstorms that struck around the San Antonio area of the state in April.

The trend of European and central European countries being hit by convective style severe weather, thunderstorms, rainfall and flooding continues in 2016, with Germany, France and the Czech Republic all suffering in recent days.

Meteorologists have long studied the unpredictability and devastation caused by tornado outbreaks in the U.S. in an effort to gain a greater understanding into the predictability, severity and potential location of events.

April 2016 saw the highest level of global natural catastrophe and severe weather losses for that month in five years, according to insurance and reinsurance broker Aon, with over $2 billion of insurance industry losses from the Japan earthquakes and $3 billion from a spate U.S. severe convective weather outbreaks.

U.S. insured losses from winter weather, convective storms and floods have reached $7.4 billion in 2016 already, according to Steve Bowen of Impact Forecasting, a total that will likely rise further with this week’s weather-warned storms and as we enter peak season for severe thunderstorm risk.

Recent P&C market commentary from Credit Suisse highlights outsized catastrophe losses for insurers from Texas hailstorms in March, suggesting that the overall industry loss, and any reinsurance or ILS impact, from these events could be higher than estimates suggest.

Another devastating hailstorm has struck Texas, the fourth major insurance and reinsurance loss in a month, with an April 12th hail storm striking the San Antonio area set to become the biggest hail insurance loss in the state’s history and push recent insured losses towards $3 billion or higher.

The Insurance Council of Texas reports that for the third time in a month severe hail storms and damaging winds have impacted cities in the state. The Insurance Council also revealed that insurance and possibly reinsurance industry losses from the previous two events could hit $1.3 billion.

Insurance and perhaps reinsurance industry losses from recent hail storm damage in Texas, suffered during outbreaks of severe convective weather in the last two weeks, has reached at least $1.1 billion, according to the Insurance Council.