Zurich-based catastrophe insurance data provider PERILS has revealed its preliminary industry loss estimates for extratropical Storm Niels, also known as Ulrike, noting that the event caused a total of €586 million in losses to the insurance industry.
The storm peaked on February 12, 2026, bringing damaging winds and heavy rainfall.
France experienced its wettest year since systematic measurements began in 1959, with saturated swarms causing flooding in the Garonne, Dordogne and Charente river basins. Additionally, Niels creates an unusual risk of avalanches in the Alps.
The storm had a very significant impact on infrastructure and physical assets. At its peak on February 12, about 900,000 households were without power and traffic almost came to a standstill.
Extreme winds damage thousands of homes, roofs and light structures and are a leading cause of insured losses. For southwestern France, Nils was the most impactful storm since Claus in January 2009.
PERILS analysts noted that while in France insured losses in Niels are expected to occur approximately every five to six years, across Europe the event loss payback period is approximately annual.
This shows that Niels was not an extraordinary event on a European scale.
Luzi Hitz, Product Manager at PERILS, commented: “The wind footprint of Nils is very similar to Storm Klaus in January 2009. At that time, Klaus caused industry losses of €1.574 billion, while Nils’ losses were lower due to weaker wind gusts. Nonetheless, this is a considerable event for the French insurance market and comes just over a month after Storm Goretti, which also had a significant impact on France.”
He continued: “Although Niels brought not only damaging winds but also heavy rain and subsequent flooding, the majority of the damage was caused by the wind. This is why PERILS classifies this event as a storm, as natural disaster hazard designations are determined by the hazard that causes most of the damage.
“Although the area affected by Nils was hit by Storm Pedro a week later, the event did not fall within the current 72-hour clause of France’s definition of a storm event for reinsurance purposes and is therefore not included in our Niels loss data.”
Preliminary estimates of losses in the insurance market are based on loss data collected from affected insurers. The loss figure covers real estate and automotive operations, according to European definitions of insurance coverage.
PERILS will publish the latest market loss estimate for Windstorm Nils on May 13, 2026, three months after the event end date.
PERILS Preliminary estimate of industry losses from extratropical storm Nils at €586 million appeared first on ReinsuranceNe.ws.
