Zurich - 27 Jan 2014
PERILS AG has today disclosed its second loss estimate for windstorm Christian which affected Western and Northern Europe from 27 to 29 October 2013.
The revised estimate of the property insurance market loss is EUR 1’068 million. This compares to the first loss estimate of EUR 994 million which was issued by PERILS on 6 December 2013.
PERILS’ loss estimates represent the market-wide insured property loss and are based on ultimate gross loss estimates as reported by insurance companies writing property business in the affected territories. The estimates exclude losses indemnified by government schemes such as CatNat in France.
In line with the PERILS loss reporting schedule, the third loss estimate for Christian will be published on 27 April 2014. For subscribers to the PERILS database, the third loss estimate, plus any further loss estimates, will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.