Denmark, Germany, Norway, Sweden, the Netherlands and the UK worst hit
Windstorm Xaver will cost the insurance industry €680m ($924.4m), according to an initial loss estimate from Perils.
Xaver affected western and northern Europe on 5 and 6 December 2013. The majority of the losses occurred in Denmark, Germany, Norway, Sweden, the Netherlands and the UK.
Windstorm Xaver is also known as Sinterklaasstorm in the Netherlands, Bodil in Denmark and Sven in Sweden.
Perils will give an updated estimate of the Xaver market loss by 5 March 2014, three months after the event start date.
Xaver formed in the Atlantic to the west of Iceland on 4 December 2013 and traveled quickly south-eastward towards the British Isles, deepening as it moved.
The highest winds occurred to the south of the low pressure system. They affected the northern parts of the UK, the Netherlands and Germany, as well as Denmark and the southern parts of Norway and Sweden.
Strong winds were accompanied by a storm surge which was particularly severe as the timing of the storm was close to that of the new moon phase on 3 December 2013.
Perils’ market loss estimate is based on ultimate gross loss data as reported by primary insurance companies and excludes losses indemnified by government schemes.