European Catastrophe Data

PERILS, an independent Zurich-based company, has been created to aggregate and provide industry-wide European catastrophe insurance data on a subscription basis, offering a clearer picture of the potential natural catastrophe risks in Europe. The aggregated data sets will be derived from data voluntarily provided by European-based insurers. Swiss Re is a founding shareholder in PERILS.

Swiss Re has long advocated establishing an independent body to aggregate European claims data. We argued that such a body could provide the industry with a market loss index for catastrophic exposures and facilitate the further expansion of the insurance-linked securities (ILS) market.

PERILS will provide two main products to subscribers which are likely to include insurers, reinsurers, brokers, risk modellers, banks and other insurance industry stakeholders. These two products are:

  1. Aggregated industry-wide insurance exposure data (insured values), which will be catalogued by risk type and CRESTA zones (defined European geographical zones for natural catastrophe insurance). The data will be provided on an annual basis;
  2. Industry loss estimates per risk type and CRESTA zones, following large natural catastrophe events.

PERILS expects the industry exposure data and loss information will have significant value to subscribers by improving the understanding of the potential frequency and severity of natural catastrophes at various magnitudes. This information will in turn aid in the risk management and underwriting of natural catastrophe risk. Overall, the combination of consistent industry exposure portfolio data and corresponding event loss information is likely to enhance the modelling of natural catastrophe risk.

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