PERILS revises Mike-Niklas loss estimate

PERILS, a provider of catastrophe insurance data, has disclosed a third loss estimate for windstorm Mike-Niklas, a combined storm system which caused significant damage across parts of Western and Central Europe between March 29 and April 1, 2015.

The revised estimate of the property insurance market loss is €826 million. This compares to the second loss estimate of €895 million issued by PERILS on June 29, 2015.

In line with the PERILS loss reporting schedule, the fourth loss estimate for Mike-Niklas will be published on March 29, 2016.