BOSTON, Dec. 10, 2013 – According to catastrophe modeling firm AIR Worldwide, last week, Extratropical Cyclone Xaver affected large parts of northern Europe, particularly the United Kingdom, Northern Ireland, Germany, the Netherlands, Belgium, Denmark, southern Sweden, Poland, and the Czech Republic. Xaver followed approximately five weeks after Windstorm Christian battered Denmark, Germany, the Netherlands, France, UK, and Sweden in late October. AIR estimated insured losses of between EUR 1.5 billion and EUR 2.3 billion from Christian. “Hurricane-force winds caused widespread power outages and travel disruptions throughout the region, but the…
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Vienna Insurance misses mark on profit estimations
Vienna Insurance profit predictions derailed Vienna Insurance Group, the largest insurance organization in Eastern Europe, has missed its own profit estimations for the 2012 fiscal year. Several factors have come together to derail the insurer’s predictions, with fourth quarter earnings showing signs of struggle as these factors culminated toward the end of the year. While the insurer did see gains, they were not as promising as had been previously expected, thus leading Vienna Insurance to revise its approach to 2013. Pre-tax profits reach $780 million in 2012 The company’s pre-tax…
Read MoreAIR Worldwide Updates European Wind and Earthquake Catastrophe Models
MONTE CARLO, Sept. 12, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released updates to its Extratropical Cyclone and Earthquake Models for Europe. Both models were significantly expanded to include additional European countries and provide a consistent and comprehensive assessment of the extratropical cyclone and earthquake risk throughout Europe. “AIR Worldwide offers complete and robust extratropical cyclone and earthquake models for Europe,” said Dr. Jayanta Guin, senior vice president of research and modeling at AIR Worldwide. “With the expanded regions and enhancements to these models, insurers and reinsurers now…
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