Gusts up to 87 mph were reported in areas of lower elevation across Spain, France, Germany and Belgium.

Mr. Dailey commented, "Comparisons have been made between Xynthia and winter storms Lothar and Martin in 1999, and with Klaus, which struck southern France last year. However, Xynthia's wind speeds were closer to those of Herta, which was one of a devastating series of storms that affected Europe in 1990, with losses of about EUR2.3 billion ($3.1 billion at current conversion rates) trended to today's exposure."

France was the hardest hit by Xynthia. Many of the country's sea walls, including those around the Il de Re island off the country's west coast, were damaged or washed away. While the storm has subsided, high tides continue to threaten areas where high sea surges have already breached dikes along the coast.

Fitch Ratings said based on a preliminary analysis it expects losses from windstorm Xynthia to be material but manageable within the earnings of French insurers.

The rating firm said it does not expect losses from the catastrophe to result in a material capital erosion for the French insurance market and predicts that the rating actions due to the storm are likely to be limited.

In Germany, severe winds uprooted trees, tore off roof tiles, tree limbs and signage, and caused building damage.

While the size of individual claims is expected to be relatively low, the overall volume of claims is expected to be significant due to the size of the affected area. Flood and coastal storm surge losses will likely be substantial, said Fitch.

Bermuda-based Validus Group said that, especially in Germany, insurers expect a huge amount of smaller claims which will delay the actual figure of insured losses.