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Storm Desmond UK floods insured loss $1bn+ (£717m): PERILS

The UK flooding caused by storm Desmond at the beginning of December is estimated to have caused £717 million ($1.035 billion or €950m) of insurance, and perhaps reinsurance, industry losses, according to PERILS AG. PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, provides its first estimate read the full article →

ABI says UK flood insurance bill £1.3bn, but ILS funds reported exposed

The Association of British Insurers (ABI) has reported that the recent UK flooding will cost insurers at least £1.3 billion ($1.9 billion). At the same time the loss, at whatever its final level, has been reported to cause attritional loss to some ILS funds. The ABI's estimate is just for its read the full article →

PERILS puts final estimate of windstorm Elon-Felix losses at €329m

PERILS AG has now provided its final estimate for the insurance industry losses caused by January 2015’s European windstorms Elon-Felix. The final estimate shows that losses grew by just one million euros since the first estimate to €329m. PERILS AG, provider of industry-wide European catastrophe exposure, industry loss data and indices, read the full article →

UK storm & flood loss could near £2.5bn ($3.7bn), hours clause a factor

Insurance and reinsurance industry losses from UK winter storms and the resulting flooding that has been experienced in recent weeks could reach as much as £2.5 billion ($3.7bn), according to analysts at UBS, but the burden for the reinsurance market is uncertain with the hours clause a factor. UBS noted in read the full article →

UK storms Desmond & Eva loss estimate up to £1.2bn ($1.8bn): PwC

Consultancy PwC has raised its estimate for the insurance and reinsurance industry loss from flooding  and damage experienced in the UK from windstorms Desmond and Eva up to £1.2 billion ($1.8 billion), while storm Frank hitting the UK today will raise the toll further. Mohammad Khan, general insurance leader at PwC, read the full article →

UK flood loss estimates rise to £1.5bn, Flood Re expansion called for

Estimates of insurance and reinsurance industry losses from the recent UK flooding caused by storms Desmond and Eva are rising, with KPMG suggesting re/insurers should expect a £1.5 billion ($2.23 billion) hit. At the same time as estimates rise the calls are beginning to come in for the UK flood reinsurance read the full article →

UK flood insurance industry losses could hit £1bn ($1.5bn): PwC

The United Kingdom continues to suffer from severe flooding, with the latest areas hit being Lancashire and Yorkshire, while impacts are still being felt in Cumbria. The insurance and reinsurance industry could end up paying for as much as £1 billion ($1.5 billion) of the costs, according to PwC. PwC's new read the full article →

Storm Desmond & UK floods likely a £520m re/insurance loss: ABI

The Association of British Insurers (ABI) has said that it expects the insurance and reinsurance industry to pay for around £520 million ($775m or €715m) in claims from European windstorm Desmond and the resulting flooding in the northern UK. Storm Desmond hit the north of the UK over the 4th and read the full article →

UK storm Desmond expected to cost insurers up to £325m: PwC

Global consultancy and accounting specialists PwC believe that storm Desmond, a European windstorm that struck the UK in recent days causing severe flooding in Cumbria and the northwest, could cause cost up to £500m, with insured losses of up to £325m (~$490m). Mohammad Khan, general insurance leader at PwC UK, explained; read the full article →

PERILS puts Cumbria, UK flooding under investigation

The recent UK flood event, which struck in the last few days in the northwest largely affecting Cumbria, has now been officially placed 'under investigation' by insurance and reinsurance industry loss data aggregator PERILS AG. As we wrote yesterday, PERILS AG, the provider of industry-wide European catastrophe exposure, industry loss data read the full article →