hurricane Ophelia 2017

The insurance and reinsurance industry loss from ex-hurricane Ophelia has been found to be just EUR 60 million by PERILS AG, which said that while a rare form of European windstorm the impacts from Ophelia were much less severe than feared.

Storm Ophelia could result in damages to Ireland worth up to €1.5 billion (US$1.8bn), after becoming one of the most powerful storms to hit the region in more than half a century, with the hit to insurance and reinsurance interests considered relatively significant, according to industry reports.

Hurricane Ophelia, having become the furthest east storm to reach major Category 3 status, is tracking towards Ireland and threatens a landfall in the south-west of the country as a strong extra-tropical storm which hurricane wind gusts, a damaging storm surge and heavy rainfall.