CRESTA CLIX Quarterly Update Q3 2023
Summary
In terms of industry loss amounts, Q3 was dominated by the severe convective storms in Northern Italy in July 2023, which brought damaging hail and winds to the regions of Lombardy, Veneto, Friuli-Venezia-Giulia, Piemonte and Emilia-Romagna. In its initial estimate, CRESTA puts the industry loss for the storms at USD 2.2bn. In addition, extreme rainfall in late July and early August in China led to flooding in Beijing and the surrounding regions. CRESTA currently estimates the industry loss figure at USD 1.4bn.
The following changes in the CLIX Loss List became effective as result of the CLIX quarterly update per 30 Sep 2023:
Under investigation
- Slovenia Floods, Aug 2023
- Storm Hans, Northern Europe, Aug 2023
- Convective Storm Denis, Europe, Aug 2023
- Hong Kong Floods (Typhoon Saola), Sep 2023
Initial loss estimate
- Emilia-Romagna Floods, Italy, May 2023*
- Western Europe Severe Storms, Mid-June 2023*
- Northern Italy Severe Convective Storms, Jul 2023
- Beijing-Tianjin-Hebei Floods (Typhon Doksuri), Jul-Aug 2023
Changed loss estimate
- Fukushima Mw 7.0 Earthquake, Feb 2021
- European Severe Storms, Jun 2021
- Fukushima Mw 7.3 Earthquake, Mar 2022
- Western Europe Severe Storms, Early June 2022
- Kanto Hailstorm, Japan, Jun 2022*
- Western Europe Severe Storms, Mid-June 2022
- Typhoon Nr. 14 (Nanmadol), Japan, Sep 2022
- Typhoon Nr. 15 (Talas), Japan, Sep 2022*
- North Island Floods, New Zealand, Jan 2023
- Kahramanmaras Earthquake Sequence, Türkiye, Feb 2023
- Cyclone Gabrielle, New Zealand, Feb 20233
Final loss estimate
- China Summer Floods, Jun - Sep 2020
* below reporting threshold
CLIX Loss List
The CLIX Loss List currently includes 190 major natural catastrophe events,190 of which exceed the reporting threshold. Together the events above the threshold represent a total of more than USD 324 bn in industry losses.
Reporting Schedule
Whenever feasible, a first CLIX industry loss estimate will be made available by the end of the quarter following the event’s end date. All subsequent industry loss estimates will be made available in the following quarters up to a maximum of three years after the first industry loss estimate was released, unless it is declared final by CRESTA at an earlier stage.
Products
For each qualifying CLIX event, a detailed event description is provided together with structured data on fatalities, number of claims, and other relevant information where available. All information is easily retrievable from the database via the website in pdf and Excel format.