Zurich - 04 Dec 2023
PERILS has today disclosed its initial 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.
PERILS’ initial estimate of the insurance market loss is EUR 509 million with the majority related to flood losses in the UK. The PERILS industry loss figure is based on loss data collected from affected insurers and covers the property line of business.