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Insurers estimate losses from Greece wildfires and European storms

Insurers etimates wildfires in Greece and severe convective storms across Europe

Aon reports that wildfires in Greece and severe convective storms across Europe could result in hundreds of millions of dollars in losses. Beginning August 12, storms in Switzerland and Austria brought heavy rain, followed by widespread hail and strong winds in Germany. Though hail was mostly under an inch, it impacted several populated areas.

Wildfires and severe convective storms have caused widespread damage across several European countries in 2024, exacerbated by extreme weather conditions.

Greece, in particular, has faced significant challenges with wildfires due to persistent heatwaves and dry conditions. The fires have impacted areas northeast of Athens, forcing evacuations, and destroying homes.

This situation reflects a broader trend across southern Europe, where high temperatures and drought conditions have fueled wildfires in countries such as Spain, Croatia, and North Macedonia​.

In Brienz, Switzerland, debris flows damaged property and infrastructure despite newly installed protective measures. Local insurers in the Bern canton expect around 1,000 claims with losses exceeding $29 mn.

The storms also affected Belgium, the Netherlands, Catalonia in Spain, France, and Italy. Aon noted millions of euros in agricultural losses.

In Greece, wildfires forced thousands to evacuate, destroyed at least 100 homes, and damaged hundreds more. Extreme heat has dried vegetation, increasing the fire risk in many areas.

Insurers etimates wildfires in Greece and severe convective storms across Europe

Greece is confronting another dangerous summer, with firefighters battling a major forest fire just northeast of Athens.

Hospitals and residential suburbs had to be evacuated as the fire that began near Varnava village on Sunday (11 August) tore through pine forests left tinder-dry by repeated heatwaves.

June and July were the hottest months ever recorded in Greece, and proved fatal for several tourists earlier this summer.

The Mediterranean region, including Greece, is experiencing some of the fastest temperature increases in Europe. Experts have linked this to climate change, which is contributing to more frequent and intense extreme weather events, including both heatwaves and storms

Last year, it was scalded by a record long heatwave lasting 16 days, contributing to the EU’s largest ever wildfire as an area twice the size of Athens went up in smoke between July and August. At least 28 people we

Swiss Re Institute reported $42 bn in insured losses from severe convective storms out of $60 bn in first-half insured natural catastrophe losses, making it the second-costliest year for thunderstorms on record. Floods, particularly in the UAE, Germany, and Brazil, accounted for 14% of global insured losses.

Greece’s proximity to Africa means that warm spells of wind often make their way across the ocean from the Sahara. This happened in June, with hot dust-bearing winds – known as ‘Sirocco’ or ‘Khamsin’ – fuelling the heatwave (see about US Severe Convective Storm: Costliest Insured Loss).

These winds are typically very dry and can desiccate vegetation, making it more prone to being sparked and spreading fires.

Insurers etimates wildfires in Greece and severe convective storms across Europe

On the flipside are the ‘Etesians’ – strong, dry northern winds which blow over the Aegean Sea, mainly affecting the islands and the eastern parts including Athens. Although the Etesians can bring residents some relief by lowering temperatures slightly, their strength can exacerbate fire conditions. 

According to the seasonal forecast from EFFIS, the Balkans, Greece, and southern France will likely have a hot summer with relatively little precipitation.

Based on that, I’d say there is an increased risk of forest fires in what we could call the ‘classical areas’ of southeastern Europe and France,” says Dr Johannes Kaiser from NILU’s department of Atmosphere and Climate.

As the global temperature rises, it also affects the earth’s water cycle. A warmer climate causes more water to evaporate. A warmer atmosphere is also able to hold more water, which means that we get more rainfall and stormwater. Such changes cause wet areas to become wetter, and dry areas to become drier.

Nataly Kramer  by Nataly Kramer