Zurich - 28 Feb 2011
PERILS AG has today disclosed its fourth and final loss estimate for Windstorm Xynthia, which occurred on 28 February 2010.
The revised estimate of the property insurance market loss for Xynthia is EUR 1.32 billion. This compares to the initial loss estimate of EUR 1.28bn, which was issued by PERILS on 12 April 2010. The modest change in the figure is due to the net effect of upwards and downwards movements within individual countries, and demonstrates the robustness of the PERILS loss estimation methodology.
The estimate excludes losses indemnified by the French CatNat government scheme.
In line with the PERILS loss reporting schedule, this final loss estimate has been published 12 months after the event occurred.
For subscribers to the PERILS Industry Exposure & Loss Database, the loss estimate is provided in full resolution, i.e. by CRESTA zone and by the property occupancy types: Residential, Commercial, Industrial and Agricultural.