Reinsurance News
PERILS AG
PERILS puts industry loss from Storm Sabine (Ciara) at €1.6bn
24th March 2020
Catastrophe loss data aggregator PERILS has released its initial loss estimate for extratropical cyclone Sabine (also known as Ciara), putting re/insurance industry losses at €1.551 billion (US $1.680 billion). The estimate from PERILS is some way below the €1.8 billion figure previously released by RMS and the €1.9 billion ... Read the full article
PERILS settles on industry loss of €782mn for Cyclone Dragi-Eberhard
9th March 2020
Catastrophe loss data aggregator PERILS has settled on a figure of €782 million (US $889 million) as its fourth and final estimate for the insurance market loss resulting from Extratropical Cyclone Dragi-Eberhard in March 2019. Dragi-Eberhard affected the British Isles, and Western and Central Europe on 9 and 10 March and ... Read the full article
PERILS estimates Australia’s January hailstorm loss at AU $670mn
4th March 2020
Catastrophe loss data aggregator PERILS has released its first industry loss estimate for the January 2020 hailstorms that impacted south-eastern Australia, putting losses at AU $670 million (US $443 million). This figure compares with the latest estimate of AU $805 million (US $527 million) from the Insurance Council of Australia ... Read the full article
PERILS estimates peak industry bushfire losses at AU $1.6bn
17th February 2020
Catastrophe loss data aggregator PERILS has estimated that insurance industry losses resulting from the recent bushfire outbreak in southeast Australia will amount to AU $1.568 billion (US $1.05 billion). The figure is well below the AU $1.9 billion estimated released by the Insurance Council of Australia (ICA) last week, but ... Read the full article
PERILS settles on Townsville Flood estimate of AU $1.2bn
10th February 2020
Catastrophe loss data aggregator PERILS has settled on a figure of AU $1.243 billion (US $830 million) as its fourth and final estimate for the insurance market loss resulting from the flooding in northern Queensland, Australia over January and February 2019. The final estimate represents a slight increase on the previous ... Read the full article
PERILS raises final Sydney hail property loss estimate to AU $798mn
20th December 2019
Catastrophe loss data aggregator PERILS has released its fourth and final property loss estimate for the hailstorms that affected the greater Sydney region in December 2018, raising the figure to AU $798 million (US $550 million). The estimate, which comes a full year after the original event, also includes the property ... Read the full article
PERILS extends coverage to New Zealand
1st November 2019
Catastrophe loss data aggregator PERILS has announced that it plans to extend its market coverage to include New Zealand. Going forward, PERILS will offer insured property exposure data related to earthquake, flood, and extratropical cyclones in New Zealand via its database. Additionally, PERILS will provide event loss data for any events above ... Read the full article
CRESTA updates info for geographic zoning system
21st October 2019
CRESTA, the re/insurance industry organisation that provides a standard global system of risk accumulation zones, has released an updated version of its zoning system for 2019. In its 2019 release, CRESTA has updated all 4,901 low-resolution and 242,172 high-resolution zones for the 137 countries covered by the organisation, following consultation with ... Read the full article
PERILS continues to see growth opportunities a decade after launch
12th September 2019
PERILS, the catastrophe loss data aggregator, recently celebrated its 10-year anniversary and has said that during this time, use in risk transfer exceeded initial expectations while it continues to see growth potential. PERILS launched in 2009 as an independent body to provide market-wide exposure and event loss data for European windstorm ... Read the full article
PERILS lowers cyclone Dragi-Eberhard industry loss estimate to €772 million
11th September 2019
Catastrophe loss data aggregator PERILS has disclosed its third loss estimate for windstorm Dragi-Eberhard, which, at €772 million is lower than the previous estimate of €798 million. Dragi-Eberhard consisted of two low pressure systems that affected areas of the British Isles, and Western and Central Europe over the 9th and 10th ... Read the full article
Former Swiss Re exec Takashi Goda named Senior Advisor for Japan, PERILS
2nd September 2019
Catastrophe loss data aggregator PERILS has announced the appointment of Takashi Goda as Senior Advisor for Japan, based in Tokyo. In his new role, Goda will work closely with the PERILS team and the local insurance industry, tasked with supporting the expansion of PERILS' services into the Japanese market. Goda brings extensive ... Read the full article
PERILS raises Sydney hailstorm property loss to AUD 766mn
20th June 2019
Catastrophe loss data aggregator PERILS has announced a revised property loss estimate of AUD 766 million (USD 530 million) for the December 2018 Sydney hailstorms. At AUD 766 million, the third insured property loss estimate from PERILS for the event is up 21% on the AUD 633 million (USD 438 million) ... Read the full article
PERILS acquires Canadian catastrophe data provider CatIQ
17th June 2019
Catastrophe loss data aggregator PERILS has announced that it has acquired Catastrophe Indices & Quantification Inc. (CatIQ), the Toronto-based provider of catastrophe loss and exposure information in Canada. Established in 2014, CatIQ collects data from the majority of the Canadian re/insurance market and provides and independent Industry Exposure & Loss Database ... Read the full article
PERILS increases cyclone Dragi-Eberhard industry loss to €798m
7th June 2019
Catastrophe loss data aggregator PERILS has increased its initial €740 million loss estimate for windstorm Dragi-Eberhard to €798 million. Dragi-Eberhard consisted of two low pressure systems that affected areas of the British Isles, and Western and Central Europe on 9 and 10 March 2019. Given the storms affected similar regions across ... Read the full article
CatIQ updates Canadian exposure database in partnership with PERILS
13th May 2019
Catastrophe Indices & Quantification Inc. (CatIQ) has released the annual update of its Canadian insurance Industry Exposure Database (IED), developed with the support of the Canadian P&C industry and in partnership with Zurich-based PERILS AG. Launched in June 2018, CatIQ’s IED is based on exposure submissions from a majority of the ... Read the full article
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