PERILS Revises Loss Estimate for Europe’s Windstorm Zeus to €272M ($335.1M)

March 6, 2018

The final estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France last year on March 6-7, have been revised to €272 million (US$335.1 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data.

This compares to an initial loss estimate of €192 million (US$237 million), issued by PERILS in April 2017, and a third loss estimate of €284 million ($350 million), which was issued on Sept. 6, 2017, six months after the event.

PERILS’ loss estimates are based on actual loss data collected from insurance companies. This fourth loss number is issued twelve months after the event, in line with the PERILS reporting schedule.

In this final loss report, the market loss data are again available by CRESTA zone and property line of business. This loss footprint information is complemented by gust speed values and loss ratios which show the incurred loss from Zeus as a percentage of the sums insured.

Source: PERILS

Related:

Insured Losses for Europe’s Storm Zeus Estimated at US$200M: PERILS

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