Zurich - 20 Mar 2019
PERILS AG has today disclosed its second loss estimate of AUD 633m for the hailstorms which affected the greater Sydney region on 20 December 2018. The estimate also includes the losses from the storm activity in southeastern Queensland on 21 and 22 December 2018.
This second estimate compares to the initial loss estimate of AUD 635m which was issued by PERILS on 31 January 2019. In line with the PERILS event definition, the PERILS loss number covers the Property line of business only – losses from Motor and other lines of business are not included.
Subscribers to the PERILS Industry Exposure & Loss Database can find further information about the event in the PERILS Portal under the section “Industry Loss”.
An updated estimate of the market loss for the Sydney Hailstorms will be made available on 20 June 2019, six months after the event start date. This third estimate and following loss estimates will be provided by postcode and Property lines of business.