Perils concludes loss estimate for European windstorms

27 February 2023

Zurich-based catastrophe data company Perils has released its final loss estimate for a series of windstorms that hit parts of Europe last February at €3.85 billion ($6.00 billion).

The storms struck continental Europe and the British Isles between February 16-21 last year, with notable losses recorded in Germany, the UK, France and the Benelux states. Smaller losses were also recorded in Austria, Switzerland and Denmark.

Perils says the storms were driven by a cluster of low-pressure systems which caused “widespread but mostly non-structural damage,” with over 1.9 million insurance claims filed relating to the event.

The fourth report marks the data company’s final estimate for the event, having released figures six weeks, three months and six months after the event. The previous estimate placed insured losses at €3.74 billion ($5.83 billion).