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Reinsurance News

PERILS disclose final loss estimate of €272m for Cyclone Zeus

6th March 2018 - Author: Matt Sheehan

Catastrophe data loss aggregation and estimation firm, PERILS AG, has revised its estimates to €272 million for the total cost of re/insurance claims incurred by European windstorm (extratropical cyclone) Zeus, which struck France in March 2017.

This figure is the fourth and final estimate by the Zurich-based organisation, and is slightly more conservative than its last revision in September 2017, which put estimated losses at €284 million.

PERILS’ final loss estimate has been issued a full year after the original disaster event, and is based on actual loss data collected from affected insurance companies.

Zeus struck France as one of a series of extratropical low-pressure systems that tracked across the British Isles and Northern Europe last year. Over the 6th and 7th of March Zeus moved rapidly across northern France and into northern Italy.

Recorded wind gust values reached highs of 193km/h in Brittany, and even the Côte d’Azur in south-eastern France felt gusts of 185 km/h.

PERILS also compiled a new loss footprint for Cyclone Zeus, which is complemented by gust speed values and loss ratios that calculate incurred losses as a percentage of the sums insured (see below).

PERILS Cyclone Zeus Data

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