Zurich-based catastrophe insurance data provider PERILS has revealed its second industry loss estimate for extratropical storm Goretti (also known as Elli), putting insurance market losses at €479 million.
The loss estimate covers the Property and Automotive business and is based on loss data collected from affected insurers, compared with the preliminary loss estimate of €467 million published by PERILS on February 20, 2026 (six weeks after the end of the campaign).
PERILS described Storm Goretti as a “very intense extratropical cyclone” which produced strong winds over the English Channel and affected adjacent land areas.
Northern France, particularly the departments of Manche and Calvados, and Cornwall in the southwest tip of England, were worst affected.
According to PERILS, Storm Goretti is the second costliest storm event in Europe during the 2025/26 season, after Storm Nils, which hit a month later.
Luzi Hitz, Product Manager at PERILS, commented: “At this stage, it is relatively safe to conclude that the 2025/26 European storm season is over.
“As with the previous season, the losses experienced were relatively small, with only two medium-impact storms – Goretti and Nils – exceeding our loss capture threshold of €300 million for any one country, or €500 million for Europe-wide events.”
Sheets continued: “While the impact of this season on the reinsurance industry will be more limited, recent history suggests that storm seasons in Europe can be much more severe.
“For example, the 2023/24 season saw Storm Charan, which caused insured losses of €2.067 billion, while the 2021/22 season saw the Dudley, Eunice and Franklin series of storms (also known as Ylenia, Zeynep and Antonia), which caused a total of €3.851 billion in losses. Therefore, reinsurers/insurers should be well prepared for the possibility of more severe seasons in the future.”
PERILS noted that the latest estimates of Windstorm Goretti market losses, in the form of loss footprints for CRESTA regions and business lines, will be available on July 9, 2026, six months after the event end date.
