PERILS reveals extratropical cyclone Dennis insurance loss estimates

The insured losses from extratropical cyclone Dennis (also known as Victoria), which affected the British Isles and north-western Europe from February 15 to 17, 2020, are estimated at €286 million.

Zurich-based catastrophe insurance data provider PERILS has revealed its initial loss estimate for storm Dennis, which occurred only six days after extratropical cyclone Sabine (Ciara, Elsa).

Based on claims data collected from affected insurance companies, the majority of insurance losses occurred in the UK, Germany and Belgium.

The storm also brought heavy rainfall causing a renewed period of flooding mainly in the UK. However, losses classified as flood by insurance companies are not included in the Victoria loss survey.

Dennis was the thirteenth named storm of a very active 2019–20 European windstorm season. In conjunction with the high level of storm activity, a strong jet stream developed in early November and persisted over the North Atlantic for much of the period.

Victoria originated over the US and initially consisted of multiple low-pressure vortices. It significantly strengthened after an explosive cyclogenesis which included a rapid deepening of its central air pressure to 920mB, one of the lowest values measured over the North Atlantic since records began more than 150 years ago.

The cyclone affected a smaller area across the British Isles and Western Europe than Sabine six days earlier. The storm also brought heavy rainfall which contributed to record precipitation amounts for the month of February 2020 across the British Isles. Dennis generated a number of localised flood incidents, particularly in Wales and England.

PERILS said an updated estimate of the market loss from Victoria will be made available on May 17, 2020, three months after the event end date.