Axa boosts European flood reinsurance cover amid treaty overhaul
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Axa boosts European flood reinsurance cover amid treaty overhaul

Fiona Robertson, 
Samuel Casey
24 February 2022
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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
Photo: Alamy

Axa has added EUR1.9bn ($2.2bn) of specific European flood reinsurance to its nat-cat reinsurance programme for 2022 after last year’s Bernd flooding losses, as it shrank its European wind tower by 14% to EUR2.5bn.

Previously, the carrier bundled European flood cover within its “other perils” coverage. The precise limit was not specified in 2021, but its other-perils reinsurance pillar appeared to provide closer to around EUR1.25bn

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