PERILS puts final European windstorm Tini loss estimate at €286m

by Artemis on February 12, 2015

The final insurance industry loss estimate for European windstorm Tini, which struck in February 2014, has been put at at €286m by PERILS AG, the Swiss headquartered provider of industry-wide European catastrophe exposure, industry loss data and indices.

European windstorm Tini, also known as Darwin in some countries of Europe, impacted predominantly the UK and Ireland on the 12th and 13th February 2014, with the majority of the losses that occurred coming from those two countries.

PERILS first estimated industry-wide insured losses for European windstorm Tini at €245m in March. It then revealed a small increase to €253m, based on ultimate gross loss data as reported by primary insurance companies, in May, before raising the estimate again to €281m in August 2014.

Now, PERILS has released its fourth and final industry loss estimate for European windstorm Tini this morning, one year after the event itself in line with its reporting procedure. This fourth and final estimate of property market insurance industry losses sees a very small increase to €286m, which is approximately $325m or £215m.

The final loss estimate for European windstorm Tini is 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.

The map below shows how the insurance industry loss from European windstorm Tini was distributed.

European windstorm Tini map of insured property loss estimate footprint

European windstorm Tini map of insured property loss estimate footprint - Source: PERILS AG

After a its busiest winter season in 2013/14, there has yet to be a European windstorm event that has required reporting from PERILS AG so far in the 2015 season, although it has likely investigated a few of the windstorms that struck Europe in January. This shows how variable weather patterns can be. You can see just how prolific European windstorms were in the 2013/14 season from the table of storm names PERILS investigated below.

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 €286m
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 €420 million
Bernd 18 Dec 2013 Windstorm Non-qualifying
Xaver 05 Dec 2013 Windstorm Qualifying €763 million
Christian 27 Oct 2013 Windstorm Qualifying €1.144 billion

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