Zurich - 22 Oct 2024
EUR 639m – PERILS releases final loss estimate for Babet-Aline Floods and Storms of October 2023
PERILS has today disclosed its final industry loss estimate for the floods and storms caused by low-pressure systems Babet (Viktor) and Aline (Wolfgang) over the British Isles and northwestern Europe during the period of 18 to 22 October 2023.
In its fourth and final report, provided in the form of an industry loss footprint at CRESTA zone resolution, PERILS estimates that the event has cost the insurance industry a total of EUR 639 million. This industry loss figure is based on detailed loss data collected from affected insurers and covers the property line of business. The majority of the Babet-Aline losses were related to flooding in the UK.