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Zurich  -  18 May 2016

Newsletter N°1/2016 has been published

<<PERILS Inside>> N°1/2016, which provides an update on the latest developments, is now available.

Zurich  -  28 April 2016

PERILS joins Singapore-based NatCatDAX Alliance

PERILS announced today that it has joined the Singapore-based Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance which has been set up to increase data availability for natural catastrophe insurance in Asia.

Zurich  -  01 April 2016

PERILS issues updated Industry Exposure Database for 2016

PERILS announced today the release of the 2016 update of the PERILS Industry Exposure Database containing market-wide property sums insured for:

- Windstorm: Austria, Belgium, Denmark, France, Germany, Ireland, Luxembourg, Netherlands, Norway, Sweden, Switzerland, United Kingdom
- Flood: Italy, Turkey, United Kingdom
- Earthquake: Italy, Turkey

Zurich  -  29 March 2016

PERILS discloses fourth and final loss estimate for windstorm Mike-Niklas of EUR 816m

The fourth and final PERILS loss report for windstorm Mike-Niklas which affected parts of Western and Central Europe from 29 March to 1 April 2015 is now available.

PERILS' final property market loss estimate for Mike-Niklas is EUR 816m. This compares to the third loss estimate of EUR 826m which was issued on 29 September 2015.

This loss estimate is being issued 12 months after the event and is available in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.

By combining the PERILS market sums insured and gust speed information, subscribers to the PERILS database can use ‘live’ data to facilitate market benchmarking activities and to calibrate European wind risk models. In the case of Mike-Niklas, this is of particular benefit to the German market, as the vast majority of the insured losses occurred there and virtually no regions remained loss-free.

Subscribers can access more information under the “Industry Loss” section in the PERILS Portal.

Zurich  -  24 March 2016

PERILS discloses second loss estimate for UK floods “Eva-Frank” of GBP 578m

PERILS AG has today disclosed its second loss estimate for the floods in the UK which occurred between 25 December 2015 to 14 January 2016 following storms Eva and Frank in late December, and further low pressure systems in early January 2016.

The revised estimate of the property insurance market loss is GBP 578m. This compares to the initial loss estimate of GBP 526m which was issued by PERILS on 5 February 2016. Together with the losses from the “Desmond” floods in the first half of December 2015, which amounted to GBP 662m as stated in the 2nd loss report released by PERILS on 4 March 2016, the total property industry loss for the UK floods in December and early January currently adds up to GBP 1’240m.

Subscribers to the PERILS Industry Exposure & Loss Database can access more information on the “Eva-Frank” floods in the “Industry Loss” section of the PERILS Portal.

In line with the PERILS loss reporting schedule, which provides a minimum of four loss reports per covered event which are released 1.5, 3, 6, and 12 months after the event start date, the third flood loss estimate for the “Eva-Frank” floods will be released on 24 June 2016. This estimate and any subsequent loss estimates will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential and Commercial.

Zurich  -  04 March 2016

PERILS discloses second loss estimate for UK floods “Desmond” of GBP 662m

PERILS AG has today disclosed its second loss estimate for the floods in the UK from 4 to 24 December following storm Desmond.

The revised estimate of the property insurance market loss is GBP 662 million. This compares to the initial loss estimate of GBP 717m which was issued by PERILS on 15 January 2016.

Storm Desmond was identified and named by the UK Met Office / Met Éireann. The storm, which was also named Ted by the Free University of Berlin, brought record-breaking rainfall mainly to the Northwest of England, where it fell on ground already saturated from a series of depression systems during November. This led to severe flooding which mainly affected the counties of Cumbria and Lancashire, with the floods peaking on 5 and 6 December 2015.

Subscribers to the PERILS Industry Exposure & Loss Database can access more information on the Desmond floods in the “Industry Loss” section of the website.

In line with the PERILS loss reporting schedule, the third flood loss estimate for Desmond will be published on 4 June 2016. This estimate and any subsequent loss estimates will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential and Commercial.

Zurich  -  05 February 2016

PERILS discloses first loss estimate for UK floods “Eva-Frank” of GBP 526m

PERILS AG has today disclosed its first loss estimate for the floods in the UK caused by storms Eva and Frank starting on 25 December 2015.

Zurich  -  15 January 2016

PERILS discloses first loss estimate for UK floods “Desmond” of GBP 717m

PERILS AG has today disclosed its first loss estimate for the floods in the UK caused by storm Desmond starting on 4 December 2015.

Zurich  -  08 January 2016

PERILS discloses fourth and final loss estimate for windstorm Elon-Felix of EUR 329m

The fourth and final PERILS loss report for windstorm Elon-Felix is now available. Elon-Felix affected Western and Northern Europe from 8 to 11 January 2015 and is also known as Dagmar-Egon in Denmark and Sweden, and as Nina in Norway.

PERILS' final property market loss estimate for Elon-Felix is EUR 329m. This compares to the third loss estimate of EUR 328m which was issued on 8 July 2015.

This final loss estimate is again available in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural. Subscribers to the PERILS Database can access more information under the “Industry Loss” section.