Loss Announcement:

PERILS discloses third loss estimate for windstorm «Tini» of EUR 281m

Zurich - 12 Aug 2014

PERILS AG has today disclosed its third loss estimate for windstorm Tini, also known as Darwin, which affected Ireland and the United Kingdom on 12 and 13 February 2014.

The revised estimate of the property insurance market loss is EUR 281 million. This compares to the second loss estimate of EUR 253 million which was issued by PERILS on 12 May 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 are 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 Tini loss footprint may serve as a benchmark to validate European wind risk models with actual data. 

In line with the PERILS loss reporting schedule, the fourth loss estimate for Tini will be published on 12 February 2015.