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PERILS finalises Storm Desmond UK flood loss estimate at £604m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has finalised its industry loss estimate for the UK floods due to storm Desmond that struck the country in December 2015 at £604 million. PERILS previous loss estimate for the flooding from storm Desmond, published in June, had read the full article →

Calypso Capital II cat bond rating upgraded by S&P

Both tranches of notes from the Calypso Capital II Ltd. (Series 2013-1) catastrophe bond issuance, which was sponsored by insurance and reinsurance firm AXA Global P&C in October 2013, have been upgraded by rating agency Standard & Poor's. Upgrades to the ratings of catastrophe bond notes is a relatively rare occurrence. read the full article →

PERILS updates European windstorm industry loss forecasting tool

PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data and indices, has updated the underlying loss model of its Wind-Jeannie tool in advance of the coming 2016/17 European windstorm season. PERILS launched Wind-Jeannie in time for last years European windstorm season. The online tool provides forecasts of potential read the full article →

UK flood insured loss estimate falls to £1.135bn on Eva-Frank drop: PERILS

The insurance and reinsurance industry loss estimate from the UK flooding that hit the country in December 2015 and early January 2016 is now £1.135 billion ($1.56bn), after the estimate for storms Eva – Frank fell by 7%, according to PERILS AG. Zurich-based PERILS AG, a provider of industry-wide European catastrophe read the full article →

PERILS drops Storm Desmond UK flood loss estimate 10% to £597m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has reduced its estimate insurance or reinsurance market losses from UK floods due to storm Desmond in December 2015 by another 10% down to £597m ($860m). Today PERILS has released its third estimate of insured property losses caused read the full article →

ABI sticks to final UK floods insurance bill of £1.3 billion

The Association of British Insurers (ABI) is sticking with its estimate that the final insurance bill for last winter's UK flooding will cost around £1.3 billion (approximately $1.9 billion), so impact to reinsurance and ILS markets should not creep too much higher. The ABI said today that over 15,000 insurance claims read the full article →

UK floods insured loss now £1.24bn, as Eva-Frank estimate rises: PERILS

The insurance and reinsurance industry loss from the flooding that struck the UK in December 2015 and early January 2016 is now estimated at £1.24 billion ($1.75bn) as the estimate for storms Eva - Frank rises 10%, according to PERILS AG. According to Zurich-based PERILS AG, a provider of industry-wide European read the full article →

PERILS lowers estimate for Storm Desmond UK flood losses to £662m

PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, has lowered its estimate of insurance or reinsurance market losses from the UK flooding caused by storm Desmond at the beginning of December 2015 to £662m ($940m). The reduction of almost 8%, from the initial loss estimate for read the full article →

CGI EU windstorm loss forecast system could assist re/insurers and ILS

The European Centre for Medium-Range Weather Forecasts (ECMWF) has selected international tech firm CGI to develop a system that would aid insurance, reinsurance and insurance-linked securities (ILS) players forecast future losses from windstorms across Europe. The new venture will be led by the European Commission and CGI has been asked to develop read the full article →

Storms Eva – Frank UK flood insured losses £526m ($770m): PERILS

The insurance and perhaps reinsurance industry loss due to UK flood damage caused by storms Eva & Frank in December and other low pressure systems in January, is estimated to have cost the industry £526 million ($770m or €685m), according to PERILS AG. The first estimate for the insured flooding losses read the full article →