PERILS holds Cyclone Thomas / Doris insured loss at EUR249m

by Artemis on August 23, 2017

For the third update to the estimate of insurance and reinsurance industry losses caused by extra-tropical cyclone (or European windstorm) Thomas (which was also known as Doris in the UK), PERILS AG has held the tally static at EUR 249 million.

Cyclone Thomas DorisExtra-tropical cyclone Thomas (Doris) hit the British Isles, Netherlands, Belgium and Germany on the 23rd and 24th February 2017, with maximum wind gusts as high as 152km/h recorded in the UK and 150km/h in Germany, causing damage to property and other insurable interests.

PERILS initially gave the storm a property insurance and reinsurance market loss estimate on the 6th April, pegging extra-tropical cyclone Thomas’ impact to the industry at EUR 213 million, with most of the re/insurance losses seen in the UK and Germany.

PERILS then revisited the estimate, according to its schedule, and increased it by 17% on the 23rd May, putting the industry exposure to Thomas/Doris at EUR 249 million at the second update.

Now, PERILS has announced that the total has not changed at the third loss estimate published today, with the total exposure for the insurance and reinsurance industry remaining at EUR 249 million.

That’s not to say there hasn’t been any change. PERILS explained that; “While there are notable changes in loss amounts on a country-by-country basis, the overall event loss figure has remained the same.”

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