Loss Announcement:

PERILS discloses second loss estimate for windstorm «Xaver» of EUR 727m

Zurich - 05 Mar 2014

PERILS AG has today disclosed its second loss estimate for windstorm Xaver which affected Western and Northern Europe on 5 and 6 December 2013. Windstorm Xaver is also known as Sinterklaasstorm in the Netherlands, Bodil in Denmark and Sven in Sweden.

The revised estimate of the property insurance market loss is EUR 727 million. This compares to the first loss estimate of EUR 680 million which was issued by PERILS on 16 January 2014. 

In line with the PERILS loss reporting schedule, the third loss estimate for Xaver will be published on 5 June 2014. For subscribers to the PERILS database, the third loss estimate, plus any further loss estimates, will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.