PartnerRe Ltd. announced last night that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50 million and $65 million.
Claims are expected to emanate from several European countries with the largest number from Germany and Austria, the Pembroke, Bermuda-based reinsurer said.
PartnerRe's loss estimate is based on the assessment of individual treaties as well as client data.
The company, a large multiline reinsurer in Europe, said Kyrill losses are expected to be contained within its worldwide specialty and global property-casualty subsegments. The specialty segment included PartnerRe's property-catastrophe business.
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