Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic losses from natural disasters worldwide reached …
Floods ripped through central Europe killing at least 17 people, as governments across the region took emergency measures and prepared to spend hundreds of millions of euros on the cleanup. Flows in the Danube — Europe’s second-longest river — were …
The recent floods in southern Germany will cost insurers an estimated €1.568 billion (US$1.7 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The floods, which hit southern Germany during the period of May 31 …
Estimated insured losses from flooding, which hit Southern Germany on May 15-June 5, will range from €2.4 billion (US$2.6 billion) to €3.6 billion (US$3.9 billion), according to Verisk, the data analytics and technology firm. Moody’s RMS recently estimated insured losses …
Insured losses from floods that hit Central Europe between Thursday, May 30 and Monday, June 3 will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), according to Moody’s RMS Event Response. The …
Insurers are preparing for an above-average loss event as a result of floods in southern Germany. “The pictures from Bavaria and Baden-Württemberg foreshadow the worst. Our companies are already receiving many claims reports,” according to Jörg Asmussen, managing director of …
Extreme weather in Germany again caused high insurance claims this year, with an estimated price tag of €4.9 billion (US$5.4 billion) during 2023, according to the German Insurance Association (GDV). This extreme weather – also known as severe convective storms …
The most significant non-U.S. loss event in 2021 was the mid-July flooding in Western Europe, according to CRESTA, the Zurich-based insurance industry organization that provides a global standard for risk aggregation zones and catastrophe industry losses. This event generated a …
German reinsurance companies Munich Re and Hannover Rueck said on Monday they expect rising prices for their business in Europe next year, citing mid-July floods in central Europe, inflation and the coronavirus pandemic. The floods in July alone caused damage …
German insurers face claims of about 11.5 billion euros ($13.6 billion) in 2021 after extensive flooding and hail storms, Germany’s insurance lobby GDV said on Thursday. It could be the most expensive year for insurers since the GDV began keeping …
