AIR Worldwide, which estimated insured losses from Winter Storm Kyrill of more than $5 billion, said today that Germany might account for half the insured destruction.
The Boston-based catastrophe modeling firm said that a survey team dispatched to areas affected by the storm found that damage levels to individual properties in Germany were generally low, but the frequency of damage was high and geographically widespread.
In total, insured losses will likely be at least 2 billion euros, or nearly $2.6 billion.
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