Insured losses from the recent flooding in the Valencia province in Spain will amount to EUR1.5bn-EUR2.5bn ($1.6bn-$2.7bn), of which Spain’s public cat pool will likely take a ~90% share, according to Gallagher Re.
During
Gallagher Re pegs Spanish flood insured losses at EUR1.5bn-EUR2.5bn
Only around EUR70mn-EUR140mn will fall to private insurers.