GDV pegs German flooding insured loss at EUR4bn-EUR5bn

21 July 2021

Stuttgart, Germany. 28th June, 2021. Drivers try to avoid the floods with their cars on Konrad-Adenauer-StraBe. A strong thunderstorm has swept across large parts of Baden-Wurttemberg, causing major damage. Credit: Andreas Rosar/dpa/Alamy Live News

The severe flooding that struck central Europe in the past ten days will cause between EUR4bn and EUR5bn ($5.9bn) in damage in Germany, according to the country’s insurance association, Gesamtverband der Deutschen Versicherungswirtschaft (GDV).

The estimate comes after this publication revealed reinsurers were preparing for an insured loss of around EUR5bn for the historic flooding event.

The

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Topics

News Claims and losses Weather Catastrophe losses

Rachel Dalton

Lead Reporter