PERILS, the Zurich-based catastrophe insurance data provider, has disclosed an initial industry loss estimate of EUR 2.186 billion from severe convective storms (SCS) that affected Germany, France, Switzerland and Italy between 13 and 19 July 2026.
As usual, this initial insurance market loss estimate is based on loss data collected from the affected insurers, and aligns with the PERILS coverage definition for Europe, which includes property and motor lines.
PERILS explained that from 13 to 19 July 2026, a wave of SCSs was triggered by high-level cool air moving in from the northeast across the continent.
This created a “suction” effect, lifting hot and humid air from the preceding heat wave, creating the perfect conditions for the formation of a myriad of scattered convective storm cells.
Some of these thunderstorm cells produced very large hail, damaging wind gusts and exceptionally intense rainfall.
In affected towns and cities, the primary damage included property damage caused by high winds and wind-borne debris; damage to vehicles and buildings from large hailstones; and flooding of cellars and basements caused by flash floods.
Luzi Hitz, Product Manager, PERILS, commented, “While multi-billion-euro SCS industry losses in Europe are not unheard of, the sheer magnitude of the loss is striking when the tally is calculated. Unlike floods, cyclones or earthquakes, SCS rarely make the international headlines as they are normally localised events.
“This could create a perception bias, potentially leading to an underestimation of the overall impact of SCS. It is therefore essential to collect loss data from major SCS outbreaks systematically to determine the true extent of these weather events.”
He continued, “While the combination of large hail, high gusts, and torrential rain is typical for SCS events, what stood out about the mid-July 2026 event was its lengthy duration and geographical extent, and the intensity of the individual storm cells. These features are essentially driven by the steadily warming atmosphere, and therefore this will likely not be the last time we see a multi-billion SCS event in Europe.”
An updated estimate of the market loss from the mid-July 2026 SCS will be made available on 19 October 2026, three months after the event end date.
In a Weekly Cat Report, Aon said that the widespread European SCS between July 10–17, 2026, will likely result in substantial economic and insured losses, with aggregate financial losses expected to reach at least “hundreds of millions of euros and the potential for the sequence to become a billion-euro industry event” as damage assessments continue.
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