Friederike losses up to EUR800 mn

Storm Friederike, which swept across Germany recently, may likely have caused insured losses of up to EUR800 million (USD980 million), experts have concluded.

The German insurance association GDV estimated insured losses of EUR500 million, while models from the insurance consultant Meyerthole Siems Kohlruss (MSK) forecast losses of EUR800 million.

Meteorologists and insurance companies have compared Friederike to winter storm Kyrill, which caused more than EUR2 billion worth of insured damage in 2007.

Friederike took at least six lives and winds reached 205 kilometres per hour, MSK said.

Earlier this month, strong winds from winter storm Burglind hit Germany hard, causing EUR300 million in insured losses in Germany, according to insurance broker Aon Benfield.