windstorms News

PERILS Reduces Loss Estimate to £662M for Floods from UK’s Storm Desmond

PERILS AG disclosed its second, revised loss estimate for the floods which hit the UK from Dec. 4 to 24 following Storm Desmond. The latest estimate of the property insurance market loss is £662 million (933.2 million), compared to the …

Insured Losses from U.K. Storm Desmond Estimated at $1.1 Billion: PERILS

The initial estimate of the insured property market loss for flood damage caused by storm Desmond during Dec. 4-24, 2015 is £717 million ($1 billion), while windstorm losses from the event are estimated at £42 million ($59.3 million), according to …

Swiss Re 2015 Economic Cat Loss Initial Estimates = $85Bn; $32Bn Insured

Swiss Re’s latest sigma report preliminarily estimates that total economic losses from natural catastrophes and man-made disasters will reach approximately $85 billion in 2015. Insured losses, however, were just $32 billion. In total, approximately 26,000 people lost their lives in …

Willis Re Reports on Impact of ‘RMS v11’ European Windstorm Model Changes

A report from Willis Re notes that “UK insurers may see increases of up to 97 percent in their capital requirement for catastrophe exposures under Solvency II rules when making calculations under the new Risk Management Solutions’ model version 11, …

Swiss Re in New $400 Million Nat Cat Bond for Europe, U.S. Wind Risks

Swiss Re Ltd. Announced that it has secured $400 million in natural catastrophe coverage through a newly-formed issuer Mythen Ltd., which it described as a “flexible program that allows Swiss Re to cede wind risks in both the United States …

PERILS Updates Europe Industry Exposure Database for 2012

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has updated its Europe Industry Exposure Database with revised “market-wide property sums insured for European windstorm for  Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden, Switzerland …

Europe’s PERILS Expands Coverage to Norway, Sweden

PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include Norway and Sweden. The two Nordic markets are in addition to the nine territories already covered by PERILS: Belgium, …