PERILS Lowers Loss Estimate for December 2018 Sydney Hailstorms to A$633M

PERILS AG disclosed its second loss estimate of A$633 million (US$449.2 million) for the hailstorms which affected the greater Sydney region on Dec. 20, 2018.

The estimate also includes the losses from the storm activity in southeastern Queensland on Dec. 21 and 22, 2018.

This second estimate compares to the initial loss estimate of A$635 million ($450.7 million) which was issued by PERILS on Jan. 31, 2019. The PERILS loss number covers the property line of business only; losses from motor and other lines of business are not included.

Subscribers to the PERILS Industry Exposure & Loss Database can find further information about the event in the PERILS Portal under the section “Industry Loss.”

Source: PERILS

Related:

Insured Losses from Sydney Hailstorms Estimated at A$635M (US$457.5M): PERILS