Loss Announcement:

PERILS discloses fourth and final loss estimate for windstorm «Mike-Niklas» of EUR 816m

Zurich - 29 Mar 2016

The fourth and final PERILS loss report for windstorm Mike-Niklas which affected parts of Western and Central Europe from 29 March to 1 April 2015 is now available.

PERILS' final property market loss estimate for Mike-Niklas is EUR 816m. This compares to the third loss estimate of EUR 826m which was issued on 29 September 2015.

This loss estimate is being issued 12 months after the event and is available in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.

By combining the PERILS market sums insured and gust speed information, subscribers to the PERILS database can use ‘live’ data to facilitate market benchmarking activities and to calibrate European wind risk models. In the case of Mike-Niklas, this is of particular benefit to the German market, as the vast majority of the insured losses occurred there and virtually no regions remained loss-free.

Subscribers can access more information under the «Industry Loss» section in the PERILS Portal.