Zurich-based independent organisation PERILS has released its second industry loss estimate for extratropical windstorm Éowyn, also known as Gilles.
The storm caused widespread disruption across the Republic of Ireland, Northern Ireland, and the Central Belt of Scotland between January 24 and 25, 2025.
The second estimate places the insurance market loss at €696 million, up from the initial figure of €619 million issued by PERILS on March 10, 2025. The estimate reflects losses from property lines of business, based on data gathered from affected insurers.
PERILS confirmed that an updated industry loss footprint by CRESTA zone and property lines of business will be made available on July 25, 2025, six months after the event’s conclusion.
The storm represents the largest insurance loss event of the 2024/25 European windstorm season. In the Republic of Ireland, it was the most significant windstorm loss recorded in at least 45 years.
Across specific industries, an earlier report reveals that the major storm had a significant impact on the farming industry. The report noted that managed woodlands have sustained wind damage, impacting the timber industry. Damaged farm buildings have also increased security risks, making machinery more vulnerable to theft.
During Éowyn and continuing a trend from Darragh, agricultural claims in England and Wales doubled compared to usual levels. Meanwhile, Scotland and Northern Ireland saw a 600% increase in new claims in the initial hours of Éowyn, with high levels continuing throughout the month.
Luzi Hitz (pictured above), product manager at PERILS, said the fact that Éowyn was the largest loss event of the 2024/25 season, at €696 million, would characterise the season as relatively benign, similar to 2022/23.
Hitz noted that by comparison, Windstorm Ciaran in 2023/24 resulted in €2,067 million in industry losses, while the storm cluster of Dudley, Eunice, and Franklin during 2021/22 produced €3,851 million in losses.
Hitz also said that the scale of fluctuation between seasons demonstrates the industry's need to remain prepared for major European windstorm events capable of generating losses in the range of tens of billions of euros.
What are your thoughts on this story? Please feel free to share your comments below.
