PERILS increases loss estimate for European windstorm Andrea

Share

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data and loss indices,has published an updated loss estimate for European windstorm Andrea which hit western Europe on the 4th and 5th of January 2012, impacting Germany, UK, France, Benelux and Switzerland. The initial loss estimate that PERILS gave this storm back in February was for a market loss of €267m.

Now, after further analysis and collection of claims data, PERILS have increased the property market loss estimate for Andrea to €309m. A third loss estimate will be provided on the 4th July.

Again, as with all the European windstorms in this most recent season, Andrea is unlikely to trouble any exposed catastrophe bonds unless there are aggregate deals out there that the storm qualifies for. As we still haven’t seen any ratings warnings on European windstorm exposed cat bonds we feel it’s unlikely that this will happen.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
Blue Danube Ltd. catastrophe bond has ratings assigned

One of the catastrophe bonds which has been doing the rounds on its marketing phase and has recently completed, Blue...

Close