Menu

Reinsurance News

PERILS releases new Industry Exposure Database

19th April 2021 - Author: Katie Baker

Zurich-based catastrophe insurance data provider PERILS has released its Industry Exposure Database (IED).

perils-logoThe report contains information about property market sums insured exposed to natural perils in Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, New Zealand, Norway, Sweden, Switzerland, Turkey and the United Kingdom.

For Australia, the IED for the motor line of business has also been updated for the first time.

The IED 2021 for Canada, compiled by CatIQ, the Canadian subsidiary of PERILS, will be released later in April. In addition, the database includes IEDs for Indonesia, the Philippines and Thailand which were recently released for the first time.

The report provides information on USD 87 trillion of natural perils exposed sums insured, representing a premium volume of approximately USD 120 billion.

The largest exposure in the database is European windstorm, with EUR 61.6 trillion of insured property values as of the beginning of this year.

This represents a steady year-on-year growth of 3.0% (4.0% at constant FX rates) of insured property assets despite the impact of recessions in many countries due to the COVID-19.

A similar pattern can be observed in Australia, New Zealand, Italy and Turkey, where growth in insured property assets is outpacing GDP growth.

Luzi Hitz, CEO of PERILS, said: “Each year we produce the market exposure portfolios afresh by using updated sums insured data kindly provided by insurers in each country. It is a major undertaking resulting in the most up-to-date IEDs available in the marketplace.

“We are extremely grateful to the companies which support us by providing their data. Without their support, there would be no reliable IEDs.”

Darryl Pidcock, Head of PERILS Asia-Pacific, commented: “This is the first time PERILS has updated the motor IED for Australia, in addition to the property IED. Given the hailstorm activity in 2020 and the associated losses in both LOBs, there is no doubt that there is a lot of value in providing the IED for both motor and property.

“We are as always very grateful to our insurance partners in Australia and New Zealand who have been extremely supportive in providing us with their most up-to-date information.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Industry flags litigation as biggest issue facing Florida’s re/insurance market

An approach of Reinsurance News’ industry contacts has found abusive litigation practices to be the biggest issue currently facing Florida’s...

Close