PERILS maintains its loss estimate for European storm Thomas at USD 294 million

24 August 2017 — Daniela GHETU
PERILS AG said in a recent pree release that its insured loss estimate for European windstorm Thomas remains unchanged at EUR 249 million (USD 294 million).

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

Windstorm Thomas, also known as Doris, affected the British Isles, the Netherlands, Belgium and Germany on 23-24 February.

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 23 February 2018.

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