Zurich - 15 Mar 2023
NZD 1,650m - PERILS releases initial industry loss estimate for the New Zealand North Island Floods of January-February 2023
PERILS has today disclosed its initial industry loss estimate for the floods in the North Island of New Zealand, which occurred during the period of 27 January to 2 February 2023.
PERILS’ initial estimate of the insured market loss, based on loss data collected from the majority of the New Zealand insurance market, is NZD 1,650 million. In line with the PERILS event definition for New Zealand, this loss number covers the property line of business.