Perils increases Xynthia loss estimate
European catastrophe loss aggregator Perils has modesty increased its loss predictions for Windstorm Xynthia by EUR20mn to EUR1.3bn, as it provided the first granular breakdown of losses from a European windstorm.
The new estimate now breaks down losses by Cresta zone - a two-digit postcode level - and by property line of business.
Perils CEO Luzi Hitz said the company hoped this would help improve the accuracy of estimates from notoriously unpredictable European storms.
Breaking down losses by Cresta zone...
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