Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Industry loss for windstorm Egon rises 18% to EUR 275m


The estimate of insurance and reinsurance industry losses resulting from the impact of European windstorm (or extratropical cyclone) Egon, which struck France and Germany on the 12th and 13th January 2017, has increased by 18% to EUR 275 million.

PERILS AG, the Zurich-based provider of catastrophe industry loss estimates for the insurance and reinsurance industry, has provided its third update on the impact of extratropical cyclone Egon, and six months after the event occurred the loss estimate has risen again, from the EUR 234 million reported in April, to now EUR 275 million.

At this level of industry loss, PERILS says that windstorm Egon “ranks as a moderate event” for the insurance and reinsurance industry, a loss that it is expected will “occur at least once a year in Europe.”

Luzi Hitz, CEO of PERILS, commented on the event update; “The market loss footprint for Egon has been produced by collecting detailed loss data from affected insurance companies. The preparation of this data requires considerable work on the part of these companies. We are extremely grateful for their continued support and remain committed to returning value in the form of high-quality industry data which helps them to manage their risk exposure to European windstorms.”

The chart below from PERILS shows losses in the percentage of sums insured versus the wind gust speeds recorded from Egon in Germany.


In line with PERILS typical loss reporting schedule, a fourth loss estimate for Egon will be released on 12 January 2018, one year following the original loss event.

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

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.