Loss Announcement:

PERILS discloses third loss estimate for windstorm «Xaver» of EUR 759m

Zurich - 05 Jun 2014

PERILS AG has today disclosed its third 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 759 million. This compares to the second loss estimate of EUR 727 million which was issued by PERILS on 5 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 Xaver 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 Xaver will be published on 5 December 2014.