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June storm in Europe cost insurers $2.5 billion - Munich Re
July 9, 2014 / 9:17 AM / 3 years ago

June storm in Europe cost insurers $2.5 billion - Munich Re

FRANKFURT, July 9 (Reuters) - Storm “Ela”, which hit parts of western Europe in early June, is expected to cost insurers about 1.8 billion euros ($2.5 billion), reinsurer Munich Re said on Wednesday.

The world’s biggest reinsurer said in Germany alone insured losses from the storm came to 650 million euros.

Natural disasters of all types, from floods to blizzards in the United States, caused about $42 billion of economic losses in the first six months of the year, of which $17 billion were insured, Munich Re said in a review of natural catastrophes from January to June. (Reporting by Maria Sheahan; Editing by Kirsti Knolle)

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