PERILS increases European windstorm Christian loss report to €1.144B

by Artemis on October 27, 2014

PERILS AG, a Swiss-based provider of industry-wide European catastrophe insurance industry loss data and indices, has published its fourth and final industry-wide insured loss estimate for European windstorm Christian, increasing it to €1.144 billion.

PERILS first estimate of industry wide insured property losses caused by European windstorm Christian from December put the initial estimate at €994m. The insured loss estimate was increased and at the next update in late January by 7.4% to €1.068 billion. The third estimate, issued in April 2014, added another 2.1%, lifting the total estimate of insured market property losses to €1.091 billion.

Now, at the scheduled fourth and final update of the estimated property insured losses from windstorm Christian (also known as the St Jude storm), PERILS has added almost 5% more, increasing the total estimate of insured market property losses from Christian to €1.144 billion.

Windstorm Christian struck western and northern Europe from 27th to 29th October 2013, causing widespread damage across a number of countries. It was the first of a series of strong and damaging windstorms to hit Europe during the winter season.

The final loss estimate for this storm is again available at a higher level of granularity, with losses per CRESTA zone (two-digit postcode level) and per property sub-lines of business, Residential, Commercial, Industrial and Agricultural.

Windstorm Christian was the first major storm of the busy winter 2013 European windstorm season, it was also the most severe in terms of losses and the only storm resulting in a one billion Euro plus insurance industry toll. We have yet to see a first event this winter which has deserved assessment.

Update on all European catastrophe events investigated by PERILS AG from the winter 2013/14 windstorm season:

Event name Event start date Peril Status Estimate
Ev 14 Mar 2014 Windstorm Non-qualifying
Ulla 14 Feb 2014 Windstorm Non-qualifying
Tini 12 Feb 2014 Windstorm Qualifying €281m
UK Floods Various – Jan/Feb 2014 Flood Non-qualifying
Ruth 08 Feb 2014 Windstorm Non-qualifying
Qumaira 06 Feb 2014 Windstorm Non-qualifying
Petra 04 Feb 2014 Windstorm Non-qualifying
Nadja 31 Jan 2014 Windstorm Non-qualifying
Christina 05 Jan 2014 Windstorm Non-qualifying
Anne 02 Jan 2014 Windstorm Non-qualifying
Gerhard 01 Jan 2014 Windstorm Non-qualifying
Felix 30 Dec 2013 Windstorm Non-qualifying
Erich 26 Dec 2013 Windstorm Non-qualifying
Dirk 23 Dec 2013 Windstorm Qualifying €370 million
Bernd 18 Dec 2013 Windstorm Non-qualifying
Xaver 05 Dec 2013 Windstorm Qualifying €759 million
Christian 27 Oct 2013 Windstorm Qualifying €1.144 billion

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