Loss Announcement:

PERILS discloses third loss estimate for windstorm «Dirk» of EUR 370m

Zurich - 23 Jun 2014

PERILS AG has today disclosed its third loss estimate for windstorm Dirk which affected the UK and France from 23 to 25 December 2013.

The revised estimate of the property insurance market loss is EUR 370 million. This compares to the second loss estimate of EUR 352 million which was issued by PERILS on 23 March 2014.

For subscribers to the PERILS database and in line with the company’s reporting process, the market loss data in this third loss report is available at a higher level of granularity, with losses per CRESTA zone (two-digit postcode level) and per property line of business. In combination with gust speed data and PERILS market sums insured, the Dirk loss footprint can be used to validate European wind risk models with actual data. 

In line with the PERILS loss reporting schedule, the fourth loss estimate for Dirk will be published on 23 December 2014.