Dec. 12 (Bloomberg) -- Xaver, the storm that swept across Western Europe earlier this month, probably caused insured losses of 700 million euros to 1.4 billion euros ($1.9 billion), modeling firm AIR Worldwide said.
The majority of the losses will be in Denmark, the U.K. and Germany, the modeler said today in a statement.
The storm came ashore Dec. 5 in Scotland with winds comparable to that of a Category 1 hurricane, AIR Worldwide said. The following day, Xaver caused Hamburg’s worst flood in 37 years.
Xaver brought “hurricane-force gusts, torrential rains, and storm surge, which caused significant travel disruption, power outages, and property damage across parts of the U.K., Germany, the Netherlands, Belgium, Denmark, southern Sweden, and Norway,” Gerhard Zuba, senior principal scientist at AIR Worldwide, said in the statement.
AIR Worldwide’s estimate includes insured damage to onshore property from wind and losses to insured forestry in Norway and Sweden. It doesn’t include losses from coastal storm surge and inland flooding.
--Editors: Dan Reichl, Dan Kraut