PERILS issues updated Industry Exposure Database for 2018

PERILS announced today the release of the 2018 update of the PERILS Industry Exposure Database containing updated property sums insured and number of risks exposed to natural perils in a large number of territories.

The updated country IEDs for 2018 have again been produced from scratch based on exposure information received from more than 100 national and international insurance companies representing over 65% of the property market in the territories covered.

The database contains updated property sums insured and number of risks exposed to natural perils in Australia, Europe (Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom) and Turkey. The in-force date of the exposure data is 1 January 2018. Information about prevailing deductibles and limits has also been updated.

The biggest exposure in the industry database is European windstorm, with some 190 million individual risks representing EUR 55 trillion of insured property values. Compared to 1 January 2017, the overall European windstorm sums insured increased in EUR by 2.1% while in USD the increase was 16.5% (+3.8% at constant FX rates). Year-on-year variations in Australia, Italy and Turkey ranged from +7.4% to +17.0%. The year-on-year developments in all territories were mainly driven by movements in collected sums insured data and movements in market benchmarks.

Commenting on the announcement, Luzi HITZ, CEO of PERILS, said: "Our bottom-up approach ensures that the most current portfolio information is incorporated into the IED, and that changes and corrections in company sums insured are taken into account on an annual basis. The ever-expanding coverage and increasing quality of the data provided is helping create a more accurate picture of the industry exposures. This is only possible due to the continued efforts and commitment of our data providing companies and we once again extend our gratitude to them."

Eduard HELD, Head of Products at PERILS, added: "As we continue to update the exposure data sets, combined with loss and hazard intensity data from a current total of 30 events, we are helping the insurance industry gain a better understanding of the underlying risks exposed to natural catastrophes. Our data supports a broad range of activities, including market share analysis, natural catastrophe model validation, and the structuring and risk assessment of risk transfer products such as Cat bonds and industry loss warranty transactions."

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