Extra-Tropical Cyclone Christian struck northern Europe this weekend, causing widespread damage that Eqecat estimates will be comparable to losses experienced following Windstorm Kyrill in 2007.
Kyrill resulted in insured losses of $3.5 billion, according to figures from Swiss Re, and there are expectations that a similar loss figure will result from Christian. According to news agency NRC in the Netherlands the country has suffered €95 million of economic damage based purely on physical damage to buildings.
Eqecat predicts that with the storm having struck some of the most populous parts of northern Europe, including London, Copenhagen, Amsterdam and Hamburg that the industry should expect “a very high-level of insured exposure”.
Comparing Christian with Kyrill, Eqecat said that “many of the same countries are likely to be impacted; however, the track and related intensity of Christian is very different to Kyrill, with Christian approaching mainland Europe from a lower latitude and following a more coastal trajectory through the English Channel.”
Europe, windstorm, insurance, Eqecat