Flood losses from U.K. storms Eva and Frank estimated at 526 million pounds

PERILS AG has said that the initial estimate of the insured property market loss for the flood damage related to storms Eva and Frank in the United Kingdom is 526 million pounds.

PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, disclosed on Friday its first loss estimate for the floods resulting from storms Eva and Frank in December, and from further low pressure systems in early January 2016. [click image below to enlarge]

“Windstorm losses for the same period are estimated to be in the low double-digit millions and are not part of PERILS’ flood loss estimate announced today,” PERILS said in a statement. “This loss estimate for the Eva-Frank floods is separate from and in addition to the market loss caused by the floods from storm Desmond (4 to 24 December 2015), which was estimated by PERILS in its first loss report at 717 [million pounds].”

Related: Initial U.K. loss estimate is £717 million for flooding following December storm: PERILS 

The heavy rain following Eva, identified and named by the Met Office, affected the U.K. from Dec. 25, 2015 onwards. Storm Frank affected the U.K. from Dec. 29 onwards. The record-breaking amount of rain falling on water-saturated ground led to extensive surface water and river flooding from Christmas Day onwards, with peaks occurring on Dec. 26-27, Dec. 30-31, Jan. 4-5 and Jan. 8-9. The flooding mainly affected the counties of Lancashire, Greater Manchester and Yorkshire in the North of England, the councils of Ayrshire and Dumfries & Galloway in Southwest Scotland, and the councils of Aberdeenshire, Angus and Perth & Kinross in Northeast Scotland, PERILS said in the statement.

In line with the PERILS loss reporting schedule, the second flood loss report for Eva-Frank will be made available on March 25, 2016, and will be followed by a third loss report on June 25, 2016, which will contain loss data by CRESTA zone and by the property sub-lines Residential and Commercial.