Loss Announcement:

EUR 683m - PERILS second industry loss estimate for Babet-Aline Floods and Storms of October 2023

Zurich - 22 Jan 2024

PERILS has today disclosed its second 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’ second estimate of the insurance market loss is EUR 683 million. This figure is based on 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.