Losses from Cyclone Xavier estimated at $343.6M

According to PERILS, an independent Zurich based organization to provide industry wide catastrophe insurance data, estimated the insured property market loss for Extratropical Cyclone Xavier, which primarily affected Germany on Oct. 5, 2017, is €291 million (US$343.6 million. within accordance with PERILS’ reporting schedule, an updated estimate of the Xavier market loss will be issued on Jan. 5, 2018. Xavier was described as a very fast-moving and violent storm that caused the deaths of seven people in Germany, which occurred very early in the European winter storm season. The duration of intense winds was approximately 14 hours. Georg Andrea, head of Data Management at PERILS, commented: “Given the storm’s early occurrence in the European winter storm season, a significant part of the damage was caused by falling trees which still had leaves on them. Given the unusual characteristics of the Xavier event, the storm will add valuable loss data to the PERILS Database, allowing users to derive season-dependent vulnerability information for Germany.”