Europe Windstorms Mike, Niklas Cost Insurers at Least $1 Billion

Windstorms Mike and Niklas, which swept across Europe last month, killing nine people and severely damaging parts of Germany, probably cost insurers more than $1 billion, Aon Plc said.

The hurricane-force winds also struck portions of the U.K., Netherlands, Switzerland, Austria and Poland, the insurance broker said Wednesday in a report.

“The most severe damage was reported in Germany, where trees were downed, vehicles were toppled, and some structures were impacted by localized flooding,” London-based Aon said.

Areas of Italy and the Balkan nations were battered by a storm earlier in March that led to seven deaths and caused millions of dollars in economic losses, the report showed. Also last month, the U.S. suffered insured losses in the hundreds of millions of dollars from widespread hail, wind and tornado damage, Aon said.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE