Bermuda reinsurer PartnerRe Ltd. yesterday announced that claims relating to its exposure to winter storm Kyrill, which battered Europe last week, are expected to be between $50 million and $65 million.

Kyrill battered the UK, France, the Netherlands, Germany, Austria and Poland, among other European countries with winds over 80 miles per hour, causing severe and widespread damage and around 40 deaths.

Claims are expected to emanate from several European countries with the largest number from Germany and Austria. Catastrophe risk modelling company AIR Worldwide Corp. estimated this week insured losses from the storm would total between $5.2 billion to $10.4 billion. But RMS had a lower estimate, ranging from $3.9 billion to $6 billion.

PartnerRe’s loss estimate is based on the assessment of individual treaties as well as client data.

Many other Bermuda reinsurers are set to receive claims relating to Kyrill, the biggest storm to hit Europe in eight years.

Bradley Kading, president of Association of Bermuda Insurers and Reinsurers (ABIR), told The Royal Gazette this week that the Island’s major industry was well prepared.

“The companies are in very good shape to absorb a loss of this size ,” Mr. Kading said. “The reinsurers have been talking about the need for Europe to understand they are likely to be exposed to more frequent storms. And this is an example of what we predicted.”

PartnerRe is a leading multi-line reinsurer in Europe and Kyrill losses are expected to be contained within its Worldwide Specialty (including catastrophe) and Global Property and Casualty sub-segments.