Europe’s Windstorm Burglind (aka Eleanor) Estimated to Cost $802.5M: PERILS

Initial insured losses for Extratropical Cyclone Burglind (also known as Eleanor) are estimated at 643 million (US$802.5 million), according to PERILS, the Zurich-based organization that provides industry-wide catastrophe insurance data.

On Jan. 2-3, the event caused significant damage across Austria, Belgium, France, Germany, Ireland, Luxembourg, the Netherlands, Switzerland, and the United Kingdom.

In line with PERILS’ reporting schedule, an updated estimate of the Burglind market loss will be made available on April 1, 2018, three months after the event start date.

While the storm affected a large area across the British Isles and Western Europe, causing the deaths of at least six people in France, PERILS noted that the incurred industry loss levels for the affected individual countries were not unusual. The exception was Switzerland, where the Burglind event loss was estimated by PERILS is expected to be reached once in approximately 13 years.

The depression was named “Burglind” by the Free University of Berlin and “Eleanor” by the Irish and UK national weather services.

Related:

Insured Losses from Europe’s Storm Eleanor/Burglind Estimated at $1.3B-$1.9B: AIR

Source