Insurance Costs for Windstorm Egon Rise to €234M ($243M): PERILS

The revised estimate of property insurance losses for Windstorm Egon, which hit France and Germany on Jan. 12-13, 2017, is €234 million ($243 million), according to PERILS AG, the independent Zurich-based company that provides industry-wide catastrophe insurance data.

The cold front associated with Egon also resulted in heavy rain and snowfall, PERILS said.

This revised estimate of the property insurance market loss compares to the initial loss estimate of €212 million ($220 million) which was issued by PERILS on Feb. 23, 2017.

In line with the PERILS loss reporting schedule, the third loss estimate for Egon will be published on July 12, 2017.

The third and any following loss estimates will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.

Subscribers to the PERILS Industry Exposure & Loss Database can find more information about Egon under “Industry Loss.”

Source: PERILS