Zurich - 24 Nov 2016
PERILS AG has today disclosed its second loss estimate for the earthquake which hit Central Italy on 24 August 2016. The revised estimate of the property insurance market loss is EUR 66 million. This compares to the initial loss estimate of EUR 34 million which was issued by PERILS on 5 October 2016.
In line with the PERILS loss reporting schedule, the third loss estimate will be published on 24 February 2017. This estimate and any subsequent loss estimates will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential and Commercial.
Subscribers to the PERILS Industry Exposure & Loss Database can find more information about this earthquake in the “Industry Loss” section of the website.
Please note: PERILS currently views the series of earthquakes which hit a similar region in Central Italy on 26 and 30 October as a separate event. Should PERILS conclude that this is a qualifying event, a first loss report will be released on 7 December 2016.