PERILS gives final €420m loss estimate for European windstorm Dirk

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The final insurance industry loss estimate for European windstorm Dirk has been released at €420m by PERILS AG, the Zurich, Switzerland headquartered provider of industry-wide European catastrophe exposure, industry loss data and indices.

Windstorm Dirk struck northern Europe, predominantly affecting the UK and France, from the 23rd to the 25th December. The majority of the losses reported by PERILS are from southern England in the UK as well as Brittany and Normandy in France.

PERILS first loss estimate for Dirk, reported in February, was €275m. The estimate was increased to €352m in late March again in June to €370m.

Today’s fourth and final industry loss estimate for European windstorm Dirk, one year after the event itself in line with PERILS reporting procedure, puts the total property market loss at €420m, which is approximately $515m or £330m.

The final loss estimate for European windstorm Dirk 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.

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

European windstorm Dirk map showing market loss by Cresta Zone - Source: PERILS AG

European windstorm Dirk map showing market loss by Cresta Zone - Source: PERILS AG

After a its busiest winter season in 2013/14, there has yet to be a European windstorm event that has required assessment or reporting from PERILS AG this season. You can see just how prolific European windstorms were last year from the table of storm names below.

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

Event nameEvent start datePerilStatusEstimate
Ev14 Mar 2014WindstormNon-qualifying
Ulla14 Feb 2014WindstormNon-qualifying
Tini12 Feb 2014WindstormQualifying€281m
UK FloodsVarious – Jan/Feb 2014FloodNon-qualifying
Ruth08 Feb 2014WindstormNon-qualifying
Qumaira06 Feb 2014WindstormNon-qualifying
Petra04 Feb 2014WindstormNon-qualifying
Nadja31 Jan 2014WindstormNon-qualifying
Christina05 Jan 2014WindstormNon-qualifying
Anne02 Jan 2014WindstormNon-qualifying
Gerhard01 Jan 2014WindstormNon-qualifying
Felix30 Dec 2013WindstormNon-qualifying
Erich26 Dec 2013WindstormNon-qualifying
Dirk23 Dec 2013WindstormQualifying€420 million
Bernd18 Dec 2013WindstormNon-qualifying
Xaver05 Dec 2013WindstormQualifying€763 million
Christian27 Oct 2013WindstormQualifying€1.144 billion
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