Revised PERILS’ Loss Estimate from Windstorm Xaver Exceeds $1 Billion

PERILS AG has released its third loss estimate for windstorm Xaver, a storm which affected Western and Northern Europe on December 5-6, 2013. Windstorm Xaver is also known as Sinterklaasstorm in the Netherlands, Bodil in Denmark and Sven in Sweden.

The revised estimate of the property insurance market loss is €759 million [$1.0335 billion]. This compares to the second loss estimate of €727 million [$990 million], released in March 2014.

“For subscribers to the PERILS database, the market loss data in this third loss report is available at a higher level of granularity, with losses per CRESTA zone (two-digit postcode level) and per property line of business,” said the announcement.

PERILS will publish its fourth loss estimate for Xaver on December 5, 2014.

Source: PERILS