Windstorm Christian May Cost More Than $2 Billion, AIR Estimates
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Windstorm Christian, known as the St. Jude’s day storm in the U.K., may cost the insurance industry between 1.5 billion euros ($2 billion) and 2.3 billion euros, catastrophe-modeling firm AIR Worldwide said.
The majority of insured losses occurred in Denmark and Germany, with further losses in the Netherlands, France, the U.K. and Sweden, the Boston-based firm said in an e-mailed statement today. AIR’s estimate is higher than the 800 million-euro to 1.3 billion-euro range analysts at Willis Re published on Nov. 4.