Loss Announcement:

NZD 1,754m - PERILS releases second industry loss estimate for the New Zealand North Island Floods of January-February 2023

Zurich - 03 May 2023

PERILS has today disclosed its second industry loss estimate for the floods in the North Island of New Zealand, which occurred during the period of 27 January to 2 February 2023.

PERILS’ second estimate of the insured market loss, based on loss data collected from the New Zealand insurance market, is NZD 1,754 million. In line with the PERILS event definition for New Zealand, this loss number covers the property line of business.