loss estimate

A wave of severe convective storms that swept across Germany, France, Switzerland, and Italy in Europe between 13th and 19th July 2026 are estimated to have caused an insurance industry loss of EUR 2.186 billion, according to catastrophe data aggregator PERILS AG.

Faced with the possibility of “peak year” insured losses exceeding $300 billion, the Swiss Re Institute has suggested that the well-capitalised reinsurance sector, backed by $500 billion in capital, is pivotal to absorb large shocks.

Last year, catastrophe data aggregator and industry loss estimate provider PERILS revealed an extension to its services, with a new methodology that combines its standard data methodology with that of CRESTA CLIX, which the firm’s CEO Christoph Oehy has said will simplify the process for risk transfer use-cases including catastrophe bonds and ILW’s.

Insurance claims from the severe flooding that struck the New South Wales region of Australia this month have risen again over the weekend, with another 25% added to take the total to 10,526, but the estimate for insurance and reinsurance market losses remains low at $122 million.

Insurance claims filed from the severe flooding this July in the New South Wales region of Australia have risen overnight by another 23% to 8,415, but so far the estimate for insurance and reinsurance market losses remains low.

Insurance claims filed from the recent July severe flooding in the New South Wales region of Australia have climbed more than 57% to 6,853 overnight, while the impacts of flooding are now being most felt further north of Sydney.

Already some 4,360 insurance claims have been filed in relation to the latest outbreak of severe flooding in Australia, according to the Insurance Council.

The Insurance Council of Australia (ICA) has now declared a ‘significant event’ for the developing severe flooding in Sydney and the surrounding region of the country, as now more than 50,000 people are under evacuation orders.

Parts of eastern Australia are flooding again after an East coast low brought torrential rains and strong winds, with parts of Sydney particularly affected, with households evacuated and flood warnings in place.

Australia’s severe flooding that affected South-East Queensland and Northern New South Wales  in February and March 2022 is now counted as the third most costly extreme weather event ever recorded in the country, as the insurance and reinsurance industry loss estimate has been raised to AU $4.8 billion.