General Insurance Article - Willis Re estimates storm losses in Europe at €800m-1.3bn

 During October 27-29, UK, Northern France, Belgium, Netherlands, Denmark and Northern Germany have been impacted by a single storm system, consisting of the two low pressure systems Burkhard and Christian. The system has been called Christian, the St. Jude's Day storm (UK) and Simone (Sweden) in the specified countries.

 Associated with Christian's development Willis Re observed the formation of a "Sting Jet" bringing the strongest winds at the surface for the south UK and mainland Europe. Damage has mainly come from fallen trees, fallen tiles and smashed windows.

 Willis Re's initial estimate of insured loss in the UK is in the range of £300-£500m. However, more recent information suggests that this modelled loss may overstate actual losses, but the picture is by no means clear as yet.

 Estimated insured losses in Germany are expected to be between €250-400m. Loss estimates for Denmark are still uncertain but preliminary estimates put the total market insured loss between DKK1.25bn and DKK2.5bn (approximately €160m to 325m). Willis Re expects some losses in Sweden and the rest of the Nordic region of up to €50m.

 The Dutch Insurance Association have a preliminary estimate of E105m insured losses. This may not cover all  classes and total market loss in the Netherlands between E100m to 150m of insured losses is estimated. Low insured losses from France and Belgium are expected. A combined European loss of between €800m and 1.3bn is estimated.