european windstorm

The impact of climate change has the potential to increase hurricane losses in the U.S. by at least 10% over two decades in certain scenarios, according to insurance and reinsurance broker Aon’s work with Columbia University.

The PERILS Industry Exposure Database (IED) 2023 highlights the impact of inflationary developments on exposures, revealing sums insured for European windstorm increased by 11.7% year-on-year at constant EUR exchange rates.

Insurance and reinsurance market losses from the severe convective storm (SCS) peril in Europe are starting to run a little ahead of losses from the more widely accepted European peak peril of extratropical windstorms, according to data from Aon’s Impact Forecasting.

The insurance and reinsurance industry loss estimate for the European windstorm series that struck in February of 2022 has been raised again by another 3% to now be finalised at EUR 3.851 billion by data aggregator PERILS AG.

Italian and global insurance giant Assicurazioni Generali S.p.A. has disclosed that the capital freed up by its first green catastrophe bond issuance, the €200 million Lion III Re DAC transaction, was allocated to refinance a green asset and this helped avoid greenhouse gas emissions.

Data aggregator PERILS AG has raised its insurance and reinsurance industry loss estimate for the European windstorm series that struck in February of 2022 by almost 4% to EUR 3.739 billion.

The insurance and reinsurance industry loss from the three major European windstorms that struck close together during the month of February 2022 has been lifted to EUR 3.61 billion by data aggregator PERILS AG.

The PERILS Insurance Exposure Database (IED) for 2022 shows that the largest exposure remains European windstorm with a huge EUR 64.8 trillion of insured values as of January 1st, 2022, up 5.2% on the previous year.

The insurance and reinsurance industry loss from the three major European windstorms that struck in series over a few days during the month of February 2022 has been preliminarily estimated at close to EUR 3.3 billion by data aggregator PERILS AG.

Catastrophe risk modeller RMS has estimated that insurance and reinsurance markets face losses of up to EUR 4.5 billion from recent European windstorms Dudley (Ylenia) and Eunice (Zeynep), while Eunice alone could be as high as EUR 3.5 billion, the modeller believes.