European windstorms News

Allianz Sponsors Catastrophe Bond for European Windstorm Risks

Allianz has sponsored a new catastrophe bond which will provide the group with multi-year risk transfer capacity of €250 million to protect itself against European windstorms. Allianz entered into a three-year reinsurance agreement with Blue Sky Re DAC, a special …

Insured Losses from Winter Storm Ciarán Range From €800M to €1.3B: Verisk

Industry insured losses due to wind from Winter Storm Ciarán (also named Emir by the Free University of Berlin) will range between €800 million and €1.3 billion ($855.2 million and $1.4 billion), with the majority of the losses expected in …

Storm Ciarán Batters UK and Europe With Punishing Winds and Heavy Rainfall

Storm Ciarán plowed through northwest Europe, tearing the roofs off some buildings, snarling transport networks and cutting power to more than a million people. The cyclone delivered punishing winds and heavy rainfall to an area spanning from the UK to …

Western Europe Braces for Worst Storm of Season With Hurricane-Strength Wind Gusts

Western Europe is bracing for the worst storm so far this season with hurricane-strength wind gusts and rain potentially disrupting travel and causing damage to buildings. Storm Ciaran will bring heavy rain and intense winds from Spain to France and …

Aon Updates Europe Windstorm, Severe Convective Storm Models

Aon plc, a leading global professional services firm, updated its Impact Forecasting Europe Windstorm and Severe Convective Storm (SCS) catastrophe models to incorporate emissions scenarios that inform current and future projections of climate and storm activity across the continent. Windstorm …

Hurricane Ian Drives Global Insured Losses of $115B From Natural Disasters: Swiss Re

Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …

Europe, U.S. East Coast Likely to Avoid Unusually Cold Winter: Climate Model

Europeans and people living on the US East Coast are more likely to experience mild temperatures than a deep freeze this winter, easing any potential heating-fuel constraints at a time when energy costs are soaring. Scientists at the Copernicus Climate …

Insured Losses From February’s European Windstorms Estimated at €3.7B: PERILS

Insured losses for the European windstorm series, which affected the British Isles and continental Europe in February 2022, are estimated at €3.739 billion (US$3.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The windstorm …

Climate Change Exacerbates Extreme Weather in Europe: Report

Climate change produced another record-breaking year of extreme weather in Europe in 2021, triggering catastrophic flooding and the hottest summer on record, according to scientists at the Copernicus Climate Change Service. Summer temperatures in Europe last year were one degree …

Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon

Preliminary economic losses from natural hazards billion during the first quarter of 2022 totaled $32, of which less than 50% (or $14 billion), was covered by public and private insurers, according to a report published by Aon. Although the first …