Perils
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The final loss estimate fell by 2.5% as Perils said similar-sized losses could recur every three years. -
The event was the third Australian hailstorm event of 2020 reported by the data aggregator.
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A total of 24 million hectares of land was burnt in the worst bushfire season on record.
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The majority of losses occurred in the western Turkish city of Izmir and the rest of Izmir province.
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The updated total of A$958mn ($675mn) includes additional property and motor damages.
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The bill from the February storm, which hit Germany the hardest, was previously estimated at EUR1.55bn.
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The estimate marks a 19 percent deterioration on a February forecast.
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The data firm’s latest survey shows $108bn in premiums across 236 million policies in Europe and Australasia this year.
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The loss aggregator will issue an updated estimate for the losses at the end of May.
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Property damage in eastern Australia totals $488mn, according to an initial loss estimate by Perils.
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The majority of losses hit the UK, Germany and Belgium, estimates show.
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Hailstorm losses have caused significant motor losses in past years.
