Zurich-based catastrophe insurance data provider PERILS disclosed that it has raised its secondary industry damage estimate from extratropical storm Niels (also known as Ulrike) to 767 million euros.
This is a 31% increase from the preliminary loss estimate of €586 million published by PERILS on March 27, 2026, six weeks after the end of the campaign date.
The company explained that these market loss estimates cover the property and automotive business segments and are based on loss data collected from affected insurance companies.
The extratropical storm affected the Nouveau-Aquitaine and Occitany regions in southwestern France from February 11 to 13, 2026. The event was described as an intense extratropical cyclone that brought extreme winds and flooding to the New Aquitaine and Occitanie regions.
To recap, Niels caused the largest event losses of the 2025/2026 European storm season, with wind damage accounting for the majority of industry losses and peaking on 12 February 2026. During this period, the storms had significant impacts on infrastructure and physical assets.
At its peak, some 900,000 homes were without power, traffic was brought to a near standstill, and high winds destroyed thousands of homes, roofs and light structures. For southwestern France, Nils was the most impactful storm since Claus in January 2009.
In line with the PERILS reporting schedule, the latest estimate of Windstorm Nils market losses, in the form of loss footprint for the CRESTA region and business lines, will be released on August 13, 2026 (six months after the event end date).
Luzi Hitz, Product Manager at PERILS, commented: “Storm Niels was a multi-hazard natural disaster that not only brought damaging winds and flooding to southwestern France, but also triggered avalanches in the French Alps. Although it posed challenges for civil protection authorities, the fact that only two people died is a testament to the effectiveness of their response.”
“For the 2025/26 European storm season, only two events exceeded our loss capture threshold of €300 million for any one country, or €500 million for Europe-wide events. They were Goretti in January 2026, currently estimated at €479 million, and Nils in February, currently estimated at €767 million. This season is therefore the second consecutive season where storm losses have been significantly lower in Europe.”
