CatIQ raises Saskatchewan & Manitoba severe storm outbreak loss estimate to C$923m

CatIQ, Canada’s insured loss and exposure index provider, has raised its insurance industry loss estimate from the severe storm outbreak that affected Saskatchewan and Manitoba in the Canadian Prairies in early June to CAD $923 million, an 8.5% increase from its second loss estimate of CAD $850 million that was issued in July.

A severe storm outbreak swept across southern Saskatchewan and southern Manitoba on June 9th and 10th, which generated tornadoes, with hail measuring up to 10cm in diameter and record-breaking rainfall.

This marks CatIQ’s third loss estimate from the event.

We covered CatIQ’s first loss estimate from the severe storm outbreak, where losses had reached CAD $728 million.

A second estimate was then released by CatIQ in July, where losses had risen to CAD $850 million, before rising to CAD $923 million in September, with growth primarily appearing in commercial property lines.

CatIQ also noted that it will publish a fourth update of the market loss from the severe storm outbreak om December 10th, 2026, six months after the event start date. FSA-level loss data for the event will also be updated at this time too.

Laura Twidle, President and CEO of CatIQ, commented: “Canada experienced severe weather-related loss events at an above-average pace in the summer of 2026. In fact, the June storms in Saskatchewan and Manitoba marked the start of a ten-week stretch that saw at least one severe convective storm event reach the catastrophe threshold each week.

“Somewhat unusually, we also continued to see loss events driven by strong thunderstorms into late August and early September.”

Twidle added: “While many of these events saw damage related to hail and strong wind gusts, at present 2026 seems destined to be remembered for its storm-related flash flooding, which resulted in numerous communities seeing their wettest summer on record.”