PERILS Insured Loss Estimates for Storm Thomas Unchanged at $293.2M

PERILS AG has disclosed its third loss estimate for windstorm Thomas, also known as Doris, which affected the British Isles, the Netherlands, Belgium and Germany on Feb. 23-24, 2017.

The third estimate of the property insurance market loss for Windstorm Thomas is €249 million ($293.2 million), unchanged from the previous loss estimate which was issued by PERILS on May 23, 2017. While there are notable changes in loss amounts on a country-by-country basis, the overall event loss figure has remained the same.

For subscribers to the PERILS database and in line with the company’s reporting process, the market loss data in this third loss report are available at a higher level of granularity, with losses per CRESTA zone (two-digit postcode level) and per property line of business. The combination of the Thomas loss footprint with gust speed data and PERILS market sums insured can be used as a benchmark to validate European wind risk models.

In line with the PERILS loss reporting schedule, the fourth loss estimate for Thomas will be published on Feb. 23, 2018.

Source: PERILS