Zurich - 04 Jul 2012
PERILS AG has today disclosed its third loss estimate for windstorm Andrea which affected the UK and Western Europe from 4 to 5 January 2012.
The revised estimate of the property insurance market loss is EUR 337 million. This compares to the second loss estimate of EUR 309 million which was issued by PERILS on 4 April 2012.
For subscribers to the PERILS Database, the third loss estimate is provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.
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 fourth loss estimate for Andrea will be published on 4 January 2013.