Loss Announcement:

PERILS discloses second loss estimate for windstorm «Mike-Niklas» of EUR 895m

Zurich - 29 Jun 2015

PERILS AG has today disclosed its second loss estimate for windstorm Mike-Niklas. The combined storm systems of Mike-Niklas caused significant damage across parts of Western and Central Europe from 29 March to 1 April 2015. Niklas, which is also known as Lentestorm in the Netherlands, was by far the stronger storm. 

The revised estimate of the property insurance market loss is EUR 895 million. This compares to the initial loss estimate of EUR 853 million which was issued by PERILS on 11 May 2015. 

In line with the PERILS loss reporting schedule, the third loss estimate for Mike-Niklas will be published on 29 September 2015. The third and any following loss estimates will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural. 

Subscribers to the PERILS Industry Exposure & Loss Database can find more information about Mike-Niklas under «Industry Loss».