Winterstorm Victoria insured loss rises to €344m

Based on claims data collected from the majority of the affected insurance companies, PERILS’ has updated estimate of the insured property market loss for extratropical cyclone Victoria to €344m. This is an increase from previous loss estimates of €286m.

Victoria, also known as “Dennis”, affected the British Isles and north-western Europe from 15 to 17 February 2020 and occurred only six days after extratropical cyclone Sabine (Ciara, Elsa).

The majority of insurance losses occurred in the UK, Germany and Belgium. In addition to damage caused by strong winds, Victoria also brought heavy rainfall, in particular to the UK, resulting in further flooding to areas in England and Wales already impacted by Sabine. However, losses classified as flood by insurance companies are not included in the Victoria loss survey and will be reported separately by PERILS in an upcoming loss report on the UK Floods of February 2020.

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. However, Victoria affected a much smaller area across the British Isles and western Europe than Sabine six days earlier. As a result, losses from Victoria were approximately five times lower but still added to the considerable weather-related claims toll during February 2020.