Storm struck UK and western Europe in January

January’s windstorm Andrea will cost property insurers €337m, according to the latest estimate from loss data firm PERILS.

Andrea hit the UK and western Europe on 4 and 5 January this year.

The new estimate is an increas on the previous €309m projection which PERILS issued on 4 April.

PERILS’ loss estimates represent the market-wide insured property loss and are based on ultimate gross loss estimates reported by insurance companies writing property business in the affected territories.

The estimates exclude losses indemnified by government schemes such as CatNat in France.