Munich Re co-founding shareholder of PERILS AG

2009/02/18

Together with seven European-based insurers, Munich Re jointly established PERILS, an independent Zurich-based company that aims to aggregate and supply European catastrophe insurance data to subscribers in the insurance industry.

PERILS will provide two main products:

  • Aggregated industry-wide insurance exposure data (insured values) which will be catalogued by risk type and CRESTA zones. The data will be provided on an annual basis.
  • Industry loss estimates per risk type and CRESTA zones, following large natural catastrophe events.

The aggregated data sets will be derived from data voluntarily provided by European-based insurers. The provided data will be kept strictly confidential. Subscribers are likely to include insurers, reinsurers, brokers, risk modellers, banks and other insurance industry stakeholders.

The data services will aid in the risk management and underwriting of natural catastrophe risk. Overall, the combination of consistent industry exposure portfolio data and corresponding event loss information is likely to enhance the modelling of natural catastrophe risk. Additionally, the industry loss estimates are likely to further facilitate the establishment of loss triggers for catastrophe bond structures, industry loss warranties (ILWs) and other capital markets products.

Press Release PERILS (PDF, 120 KB)

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