CatIQ, the independent Toronto-based catastrophe insurance data provider and subsidiary of PERILS, has revised its industry loss estimate for the severe storm outbreak in Saskatchewan and Manitoba, Canada, to CAD 923 million.
The updated figure, issued three months post-event, represents a notable increase from the initial 45-day assessment of CAD 850 million, with commercial property losses driving the growth.
The severe weather event took place between June 9 and 10, impacting the Saskatchewan and Manitoba provinces which experienced heavy storms that brought tornadoes, hail, damaging winds, torrential rain and flash flooding, affecting tens of thousands of residents and businesses.
CatIQ’s third industry estimate provides a high-resolution breakdown of property and motor losses at the Forward Sortation Area level using CRESTA zones.
A fourth market loss assessment from the severe storm outbreak will be release on December 10, 2026, six months after the event start date. FSA-level loss data for the event will also be updated at this time.
Laura Twidle, President and CEO of CatIQ, commented: “Canada experienced severe weather-related loss events at an above-average pace in the summer of 2026. In fact, the June storms in Saskatchewan and Manitoba marked the start of a ten-week stretch that saw at least one severe convective storm event reach the catastrophe threshold each week.
“Somewhat unusually, we also continued to see loss events driven by strong thunderstorms into late August and early September. While many of these events saw damage related to hail and strong wind gusts, at present 2026 seems destined to be remembered for its storm-related flash flooding, which resulted in numerous communities seeing their wettest summer on record.”
The post Industry loss estimate for Saskatchewan and Manitoba severe weather reaches CAD 923m: CatIQ appeared first on ReinsuranceNe.ws.
