The insured property market loss for Extratropical Cyclone Xavier, which affected Germany on Oct. 5, 2017, has risen to €325 million (US$391.5 million)., according to data released by PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data.
PERILS’ second loss estimate for Xavier compares to an initial estimate of €291 million ($350.6 million), which was issued on Nov. 16, 2017.
In line with the PERILS loss reporting schedule, the third loss estimate for Xavier will be released on April 5, 2018, six months after the event. The third and following loss estimates will be provided in full resolution, i.e., by CRESTA zone and by property lines of business, the organization said.
Subscribers to the PERILS Industry Exposure & Loss Database can find more information about Xavier in the PERILS Portal under “Industry Loss”.
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.