Zurich - 15 Jun 2012
PERILS AG has today disclosed its third loss estimate for windstorm Joachim which occurred from 15 – 17 December 2011 and affected mainly France, Germany and Switzerland.
The revised estimate of the property insurance market loss is EUR 285 million. This compares to the second loss estimate of EUR 289 million which was issued by PERILS on 15 March 2012.
For subscribers to the PERILS Database, the third loss estimate is provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.
PERILS’ loss estimates represent the market-wide insured property loss and are based on ultimate gross loss estimates as reported by insurance companies writing property business in the affected territories. The estimates exclude losses indemnified by government schemes such as CatNat in France.
In line with the PERILS loss reporting schedule, the fourth loss estimate for Joachim will be published on 15 December 2012.