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PERILS releases 2017 update to Industry Exposure Database

3rd April 2017 - Author: Luke Gallin

PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data and indices, has released its updated 2017 PERILS Industry Exposure Database (IED), which reveals that European windstorm is the biggest exposure in the IED, with insured property values of €54 trillion (roughly US$57.6 trillion).

The new, updated database is in-force from January 1st 2017, and boasts over 200,000 individual data entries that aims to define property sums insured and the number of risk exposures across parts of Europe, Turkey, and Australia, and are based on information collected from insurance companies representing over 65% of the property market in covered regions.

According to the database, European windstorms is the biggest exposure, with roughly €54 trillion of insured property values, a decrease of -0.4%, or +2.3% at constant FX rates when compared with January 1st 2016, says PERILS.

“I am very pleased that the data collection over the last few months has again gone smoothly, which has enabled us to produce the update of the PERILS Industry Exposure Database on time.

“I would like to thank all data-providing insurance companies for their support. Without their collaboration, we would not be able to produce consistent, high-quality market data which serves to improve the understanding and tradability of natural catastrophe risk,” said Luzi Hitz, Chief Executive Officer (CEO) of PERILS.

The firm explains that in Australia, Turkey, and Italy the year-on-year variations range from +2% to +24%, with year-on-year developments in all covered regions mainly driven by changes in collected sums insured data and movements in market benchmarks, explains PERILS.

Eduard Held, Head of Products at PERILS, said; “In addition to exposure information, the PERILS database contains loss data from a growing number of natural catastrophe events. By combining exposure data with loss and hazard data, we can support a broad spectrum of applications, ranging from market share analysis to the validation of natural catastrophe models.

“The exposure and loss data is also used for the structuring and risk assessment of industry loss based risk transfer products such as Cat bonds and industry loss warranty transactions.”

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