Catastrophe data loss aggregation and estimation firm PERILS has released its final loss estimate for extratropical cyclone Xavier, which primarily affected Germany on October 5, 2017.
PERILS’ estimate of the insured property market loss for the cyclone, based on loss data collected from affected insurers, is €324 million.
This compares to the third loss estimate of €325 million issued on 5 April 2018.
Developing very early in the European winter storm season, Xavier claimed seven lives in the country as it brought damaging gusts that spanned roughly 250km wide and that ran ENE-WSW, from Hamburg to Berlin.
PERILS explained soon after Xavier struck that its timing meant trees were more vulnerable to being blown over owing to many still being heavy with leaves, something that wouldn’t have happened were the cyclone to have struck later in the European winter storm season.
This final loss figure has been issued twelve months after the event, in line with the PERILS reporting schedule.
In this final report for Xavier, the market loss data are available by CRESTA zone and property line of business.
This loss footprint information is complemented by gust speed values and loss ratios which show the incurred loss from Xavier as a percentage of the sums insured.
