PERILS, the Zurich-based catastrophe insurance data provider, has estimated that the insurance market loss for the severe convective storms which affected large parts of Europe in July could be €2,186m (£1,873m).

The figure is based on loss data collected from the affected insurers following the storms which hit Germany, France, Switzerland and Italy between 13-19 July 2026. The loss number covers the property and motor lines of business.

The SCS were triggered by high-level cool air moving in from the northeast across the continent. This created a ‘suction’ effect, which uplifted hot and humid air from the preceding heat wave, creating the perfect conditions for the formation of a myriad of scattered convective storm cells.

Some of these thunderstorm cells brought very large hail, high wind gusts, and extraordinarily intense rainfall. They began to affect northern Germany on 13 July and lasted throughout the week until 19 July, affecting southern Germany, France, Switzerland and northern Italy. The impact of the storms was primarily damage to properties due to high winds and flying debris, damage to vehicles and properties from large hailstones, and damage to cellars and basements from flash floods.

Luzi Hitz, product manager at PERILS, said: “While multi-billion-euro SCS industry losses in Europe are not unheard of, the sheer magnitude of the loss is striking when the tally is calculated. Unlike floods, cyclones or earthquakes, SCS rarely make the international headlines as they are normally localised events. This could create a perception bias, potentially leading to an underestimation of the overall impact of SCS. It is therefore essential to collect loss data from major SCS outbreaks systematically to determine the true extent of these weather events.”

“While the combination of large hail, high gusts, and torrential rain is typical for SCS events, what stood out about the mid-July 2026 event was its lengthy duration and geographical extent, and the intensity of the individual storm cells. These features are essentially driven by the steadily warming atmosphere, and therefore this will likely not be the last time we see a multi-billion SCS event in Europe.”

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