Reinsurance News
PERILS AG
PERILS raises Nanmadol estimate, but losses considered “benign”
20th December 2022
Catastrophe loss aggregator PERILS has released a second industry loss estimate for Typhoon Nanmadol, raising its initial insured loss figure from JPY 114 billion (USD 860 million) to JPY 120 billion (USD 910 million). At this level, PERILS analysts said their estimate confirms the “manageable” nature of the event, and ... Read the full article
PERILS estimates industry losses from flooding in SE Australia to hit AUD $791m
8th December 2022
Insurance data provider PERILS has given an initial industry loss estimate for the flooding in Southeast Australia of AUD $791m. This estimate is in reference to the flooding that affected New South Wales, Victoria, and Tasmania, between 12 and 28 October 2022. The number, said PERILS in a statement, covers ... Read the full article
Typhoon Nanmadol insured loss lower than initially feared at $773m, says PERILS
1st November 2022
Typhoon Nanmadol, which impacted southern Japanese islands Kyushu and Shikoku as well as the western and central regions of Japan's main island of Honshu in September, is estimated to have caused an insured market loss of roughly USD 773 million (JPY 114 billion), according to an initial estimate from PERILS. The ... Read the full article
Australia flood loss up 29% to $6.3bn in fresh PERILS update
13th September 2022
Catastrophe loss aggregator PERILS has provided a new insurance industry loss estimate of AUD 6.292 billion (USD 4.329 billion) for the devastating Eastern Australia floods that occurred over February and March this year. This update represents a significant 29% increase over the previous loss estimate of AUD 4.895 billion (USD 3.367 ... Read the full article
European flood added to PERILS database
12th September 2022
Zurich-based catastrophe loss aggregator PERILS has expanded its market coverage to include exposure and event loss data for European floods. The new service, which comes in the wake of devastating floods across Europe in 2021, will enhance the firm’s existing windstorm coverage across the continent. The expanded coverage means that data for ... Read the full article
PERILS lowers insured loss estimate for southern Australia storms to AUD 1.016bn
13th May 2022
PERILS, the catastrophe loss aggregator, has released its third and lowest insured loss estimate for the southern Australian severe storms which occurred in late October 2021, of AUD 1.016 billion. Back in January, PERILS released its second estimate which reaffirmed its first loss report, pegging the insurance industry loss from ... Read the full article
PERILS reports $85trn of sums insured exposed to natural perils in 2022
21st April 2022
Catastrophe loss aggregator PERILS has released its Industry Exposure Database (IED) 2022, reporting $85 trillion of sums insured exposed to natural perils. The report shows that the largest exposure in the database is European windstorm, with €64.8 trillion of insured values as of 1 January 2022 which represents year-on-year growth of ... Read the full article
PERILS estimates AUD 3.4bn in insured losses for Australia floods
19th April 2022
Catastrophe loss aggregator PERILS has disclosed its initial industry loss estimate of AUD 3.991 billion for the Eastern Australia floods, which occurred during the period of 23 February to 8 March 2022. The flooding was induced by an extended period of heavy rainfall resulting in major river and surface water flooding. PERILS’ ... Read the full article
PERILS lands on €3.3b insured loss from February storms in Europe
31st March 2022
Catastrophe loss aggregator PERILS has estimated that the series of windstorms that impacted the British Isles and continental Europe through February this year will drive insured property market losses of €3,289 million. The series consisted of three storms named Ylenia, Zeynep and Antonia in Europe and Dudley, Eunice and Franklin in ... Read the full article
Insured losses from Storm Nadia estimated at €272m
16th March 2022
Independent catastrophe risk modeller PERILS has released its first loss estimate for the insurance industry from the European windstorm Nadia (Malik) currently settling on a figure around €272 million. The estimate is based on claims data that was collected from the majority of the affected insurance companies. Storm Nadia took place from ... Read the full article
PERILS affirms loss estimate of AUD$1.028bn for Australia storms
31st January 2022
PERILS has looked again at the loss arising from the Southern Australia Severe Storms of last October and issued a second estimate that pegs them at AUS $1.028bn. The organisation said it had based this figure on loss data collected from the majority of the Australian insurance market and includes losses ... Read the full article
Industry loss from storms Arwen & Barra to be less than €200mn, says PERILS
23rd December 2021
Catastrophe risk modeller PERILS has said that the insurance industry losses from European Windstorms Arwen and Barra remain under €200 million for both events. PERILS' threshold for reporting on loss events is €200 million, so the fact the impact of these two storms will remain below this level means that the ... Read the full article
Insured loss from storm Hendrik-Ignatz (Aurore) seen at €311m by PERILS
2nd December 2021
Storm Hendrik-Ignatz, also known as storm Aurore, which impacted parts of north-western and central Europe from October 20th to 21st, is expected to drive insurance industry losses of €311 million, according to an initial estimate by PERILS. Storm Aurore was driven by an unusually strong jet stream for mid-October with wind ... Read the full article
PERILS issues final AU$1.2bn loss estimate for 2020’s Halloween Storm
1st November 2021
Zurich-based provider of catastrophe insurance data PERILS has released its fourth and final industry loss estimate of AUD 1,222 million for 2020’s Halloween Storm in South East Queensland. This final figure sees PERILS’ estimate rise from the AUD 1,173 million issued in May, six months after the event. In line with the ... Read the full article
Over-reserving sees PERILS drop Australia flood loss estimate to AU$751mn
24th September 2021
Catastrophe insurance data provider PERILS has cited over-reserving as the sole driver behind its significantly lower industry loss estimate from the New South Wales and Queensland flooding in March; what six weeks ago was AU$1.055 billion now stands at $751 million. Between March 18 and 24 the East Coast of Australia ... Read the full article
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