Reinsurance News
PERILS AG
PERILS estimates initial loss of €509m for Babet-Aline floods and storms
4th December 2023
Zurich-based catastrophe insurance data provider PERILS has disclosed an initial industry loss estimate of €509 million for the Babet-Aline floods and storms over the British Isles and northwestern Europe in October 2023. In line with the PERILS coverage definition for Europe, this loss number covers the property line of business. The ... Read the full article
PERILS increases industry loss estimate for Emilia-Romagna floods to €509m
22nd November 2023
Zurich-based catastrophe insurance data provider PERILS AG has disclosed its third industry loss estimate for the floods in the Emilia-Romagna region of Italy during May 2023, upping the figure to €509 million. This compares to the previous loss estimates of €377 million and €488 million issued by PERILS six ... Read the full article
PERILS ups Emilia-Romagna flood industry loss estimate to €488m
22nd August 2023
Zurich-based catastrophe insurance data provider PERILS AG has increased its industry loss estimate for the floods in the Emilia-Romagna region of Italy during May to €488 million. According to PREILS, the loss estimate covers the property lines of business and is based on loss data collected from the Italian insurance market. This ... Read the full article
PERILS increases Cyclone Gabrielle insured loss estimate to NZ $2.018bn
17th August 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its third insured loss estimate for Cyclone Gabrielle, which impacted the North Island of New Zealand in February, pegging the total at NZ $2.018 billion. According to PERILS, the figure is composed of personal lines property losses, which represent 54%, and commercial ... Read the full article
PERILS raises Turkey earthquakes insured loss estimate to $4.9bn
8th August 2023
Zurich-based catastrophe insurance data provider PERILS AG has updated its insured property market loss estimate for the Kahramanmaras Earthquake Sequence to TRY 92.8 billion, which is approximately $4.9bn at February 2023 exchange rates and $3.4bn at the current exchange rates. This new loss figure compares to the previous PERILS estimates of ... Read the full article
PERILS updates industry loss estimate for New Zealand floods to NZ $1.995bn
3rd August 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its third industry loss estimate for the late January floods across the North Island of New Zealand, pegging the total at NZ $1.995 billion. According to PERILS, the updated industry loss figure is based on detailed loss data by postcode and property ... Read the full article
PERILS places first industry loss estimate for Emilia-Romagna floods at €377m
5th July 2023
Catastrophe loss data aggregator PERILS AG has placed its initial industry loss estimate for the floods in the Emilia-Romagna region of Italy during the period of 2 to 22 May 2023 at €377m. According to PERILS, this estimate of the insurance loss is based on data collected from the majority of ... Read the full article
Swiss Re’s Oehy to succeed Hitz as PERILS CEO
31st May 2023
Zurich-based catastrophe insurance data provider, PERILS has announced the appointment of Christoph Oehy as Chief Executive Officer (CEO), succeeding current CEO Luzi Hitz who is stepping down from the role. Oehy’s appointment will be effective 1 November 2023. As CEO he will be responsible for leading the PERILS teams across Europe, ... Read the full article
Canadian insurance market continues to show “steady growth”: CatIQ
26th May 2023
Catastrophe Indices & Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, has released the annual update of its Canadian insurance Industry Exposure Database (IED). According to the latest IED update, the Canadian insurance market continues to show “steady growth” for personal lines specialty perils cover in the 2022 year-end dataset. Since ... Read the full article
PERILS raises industry loss estimate for Cyclone Gabrielle to NZ $1.925bn
17th May 2023
Zurich-based catastrophe insurance data provider PERILS AG has provided a second estimate for Cyclone Gabrielle which brought extreme rainfall and strong winds to the North Island of New Zealand during the period of 11 to 17 February 2023, pegging the total to NZ $1.925 billion. On March 30, it initially ... Read the full article
PERILS raises insured loss estimate for Turkey quakes to $4.4bn
5th May 2023
Catastrophe loss data aggregator PERILS AG has raised its estimate for insurance industry losses from February’s Kahramanmaras Earthquake Sequence in Turkey to TRY 86.4 billion (USD 4.4 billion). The updated figure represents a significant increase on PERILS’ initial insured loss estimate of TRY 65.4 billion (USD 3.5 billion), which was ... Read the full article
PERILS raises industry loss estimate for SE Australia flooding to AUD 907m
27th April 2023
Zurich-based catastrophe insurance data provider PERILS AG has disclosed its third industry loss estimate for the October 2022 Southeast Australia floods, noting the event cost the insurance industry a total of AUD 907 million. PERILS explains that the updated figure is based on detailed loss data by postcode and line of ... Read the full article
Fresh PERILS IED highlights severe impact of inflationary environment
25th April 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its Industry Exposure Database (IED) for 2023, which shows much larger year-on-year movements than in the past, reflecting the volatile economic environment. According to PERILS, the new IED 2023 includes detailed sums insured information for USD 100 trillion of property assets. The catastrophe ... Read the full article
Cyclone Gabrielle insured loss estimated at NZ $1.543bn by PERILS
30th March 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its initial insured market loss estimate for Cyclone Gabrielle which struck New Zealand in the middle of February, pegging the total at NZ $1.543 billion. The industry loss estimate is based on data collected from the New Zealand insurance market and covers ... Read the full article
Turkey earthquakes insured loss pegged at $3.5bn by PERILS
21st March 2023
Zurich-based catastrophe insurance data provider PERILS has released its first estimate of industry loss from the recent Kahramanmaras Earthquake Sequence that hit Turkey and Syria, placing it at $3.5 billion (TRY 65.4 billion). A Mw 7.8 magnitude earthquake struck south-central Turkey near the Syrian border On 6 February 2023. The earthquake initiated ... Read the full article
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