St Jude storm

Risk modelling firm AIR Worldwide has become the first of the risk modellers to provide an estimate for insured losses resulting from the recent European windstorm Christian. AIR gives an estimated range of insured losses of €1.5 billion to €2.3 billion.

Reinsurance brokerage Willis Re has published a Europe-wide estimate of the insured losses resulting from last weeks European windstorm Christian. Willis Re estimates that the insurance industry will face losses of between €800m and €1.3 billion from the storm.

Insurance-linked securities and reinsurance-linked investment manager Credit Suisse has estimated that total insured industry losses from European windstorm Christian could be in the range of $1.7 billion to $2.9 billion but does not expect the event to impact its IRIS Low Volatility Plus fund.

Reinsurance broker Willis Re is the first to issue an estimate of insured losses from this weeks European windstorm Christian for the UK. The UK was the first country to be directly hit by Christian and Willis Re estimates insured losses will be between £300m and £500m.

Swiss insurance-linked securities and catastrophe bond investment manager Plenum Investments has issued a statement saying that it does not expect losses from European windstorm Christian to reach the attachment point of any exposed catastrophe bonds.

Zurich based PERILS AG, the independent provider of industry-wide European catastrophe insurance loss data and indices, told Artemis this morning that it will assess the potential for European windstorm Christian to cause a sufficient market-wide insured loss to qualify for full reporting.

A European windstorm which formed in the mid-Atlantic from remnants of tropical storm Lorenzo which merged with a weather front that moved offshore of Canada has been named Christian and now threatens the UK and northern Europe with damaging winds gusting to 80 mph or more.