Storm Joachim May Cost Insurers 300 Million Euros, Perils Says
“The majority of the losses occurred in France,” Zurich- based Perils, an insurance industry initiative founded in 2009 to aggregate European data on natural-disaster losses, said in an e-mailed statement today.
The insurance industry’s most expensive storm on record in Europe was winter storm Lothar, which caused $5.9 billion in insured losses in 1999, according to estimates by reinsurer Munich Re. Kyrill, which battered countries including the U.K., the Netherlands and Germany in January 2007, caused $5.8 billion in insured losses while Xynthia, which hit western Europe in February 2010, cost the industry $3.1 billion.
To contact the reporter on this story: Oliver Suess in Munich at email@example.com
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