February 13, 2018 / 8:49 AM / in a year

Storm Burglind property losses estimated at 643 mln euros

Feb 13 (Reuters) - Storm Burglind will cost the insured property market 643 million euros ($791.8 million), based on loss data collected from affected insurers after the event, Zurich-based catastrophe data provider PERILS estimates.

The winter storm caused significant damage across Austria, Belgium, France, Germany, Ireland, Luxembourg, the Netherlands, Switzerland and Britain between Jan. 2 and Jan. 3.

PERILS said the insurance loss levels for the affected countries were not unusual, with the exception of Switzerland, where the impact was at a level PERILS would expect only once in about 13 years.

The initial loss estimate will be updated in April, PERILS added.

Insurance broker Aon Benfeld said last month that rain and winds from storm Burglind caused an estimated 300 million euros in insured losses in Germany.

The storm follows weather catastrophes that led to insurers having to pay record claims of about $135 billion last year after a run of hurricanes, earthquakes and fires in North America. ($1 = 0.8121 euros) (Reporting by Noor Zainab Hussain in Bengaluru and Carolyn Cohn in London; Editing by David Goodman)

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