Windstorm Ciara will result in insured losses worth at least €1.1 billion (around £914 million), according to catastrophe risk modellers AIR Worldwide and RMS.
AIR’s estimate, which goes as high as €1.9 billion (around £1.6 billion), is focussed on losses due to wind and does not include those brought about by coastal or inland flooding. Meanwhile, that of RMS, which has a maximum of €1.8 billion (around £1.5 billion) includes damage to property, auto, forestry, agriculture, and direct business interruption but excludes losses from damage to infrastructure.
Ciara – which is also known by its German and Norwegian names Sabine and Elsa, respectively – hit Ireland and the UK on February 09 before moving to Continental Europe where it impacted the likes of Germany, France, the Netherlands, Belgium, Poland, the Czech Republic, Slovenia, Sweden, Denmark, and Norway.
AIR expects the majority of wind-related losses in Germany, France, and the UK, while RMS believes losses in Germany will account for around half of the total figure.
“Windstorm Ciara is very likely to be the first billion-Euro windstorm of this season,” commented Michèle Lai, product manager for Europe Climate Models at RMS. “This event exhibited characteristics typical of European windstorms, with low gusty winds causing widespread damage across several countries, and is most comparable to Windstorm Emma in 2008.”
