Zurich - 05 Aug 2026
CatIQ and PERILS have today disclosed their final industry loss estimate for the Calgary Hailstorm of August 2024. They have also released the initial industry loss estimate for the severe thunderstorm event affecting southern Ontario and southern Quebec in late June and early July 2026, as well as the six-week post-event industry loss estimate for the Montreal and area flooding event of June 2026.
The sixth estimate for the Calgary Hailstorm, which provides a snapshot of the insurance market two-years post-event, is CAD 3,349 million. This compares to the fifth loss estimate of CAD 3,293 million, issued one year after the event.
The six-week post-event estimate for the Montrel flooding event of June 2026 stands at CAD 411 million. This is stable versus the initial estimate of CAD 409 million
An initial industry loss estimate of CAD 374 million has been issued for the severe thunderstorm event impacting southern Ontario and southern Quebec between 30 June and 3 July 2026.
These industry loss estimates are based on data collected from affected insurers and cover property (both commercial and residential) and vehicle (motor) claims.