Loss Announcement:

PERILS discloses fourth and final loss estimate for UK floods “Desmond” of GBP 604m

Zurich - 02 Dec 2016

PERILS AG has today disclosed its fourth and final loss estimate for the floods in the UK which occurred from 4 to 24 December 2015 and were linked to storm Desmond and other low pressure systems.

The revised estimate of the insured property market loss is GBP 604m. This compares to the third loss estimate of GBP 597m which was issued by PERILS on 3 June 2016.

The fourth loss report for the “Desmond Floods” once again provides the data in full resolution, with information provided by CRESTA zone (area code), and broken down by residential and commercial property lines. In addition, for the first time it contains three different flood intensity measures: the percentage of area flooded within each CRESTA zone; the average water depth within each zone; and the maximum gauge height above the 5% gauge level within each zone.

By combining this industry loss data with the PERILS industry sums insured data for the “Desmond Floods”, subscribers are able to analyse the relationship between flood intensity and damage ratios at a CRESTA zone resolution.

Subscribers to the PERILS Industry Exposure & Loss Database can access more information on the “Desmond Floods” in the “Industry Loss” section of the PERILS Portal.