Perils eyes new territories and risks in growth drive

The future of catastrophe data company Perils will include moving into new territories and risks, according to Perils sales and product head Eduard Held.

Speaking to GR at the Monte Carlo Rendez-Vous, Held said: “We are constantly looking to new territories and perils that we want to cover.”

Examples include moving into flood modelling in central and eastern Europe, following the recent huge flood losses there, Held said.

Held said that he had noted that Perils’ insurer clients were increasingly asking for this service.

He added: “And for convective storms, also, with the recent events in Europe.”

But part of Perils’ future development would include bolstering its current database with more information from the insurance industry, Held said: “The value of our database will be increasing, there will be a natural development on that side.”

Perils also announced that Perils-based limits at risk were $3.7bn at 1 September.

The firm also said that it had reached an important milestone in the use of its industry loss index data, with the total amount of Perils-based risk capital since the firm’s launch having reached $10bn.