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German flood insurance losses likely EUR 1 billion: Fitch

Insurance industry losses from recent floods in Germany will likely reach the EUR 1 billion ($1.14 billion) point, according to Fitch Ratings. The losses may weaken the underwriting profitability of the sector and, on top of losses in France and other European countries, are likely to hit some reinsurance layers.Fitch read the full article →

Storm Elvira to cost German insurers $510m+, says GDV

German insurance industry association the GDV has said today that it expects insurers will face at least $510m (EUR450m) of losses due to storm Elvira's impacts which struck the country from the 27th to 30th May.The estimate from the GDV (or Gesamtverband der Deutschen Versicherungswirtschaft) does not include impacts caused read the full article →

Reinsurance demand in Germany to grow at 1/1: Hannover Re

Demand for reinsurance coverage in Germany is expected to increase overall at the key January 1st 2016 treaty renewal season, with increased frequency of catastrophe events a key driver, according to leading reinsurer Hannover Re.In recent years Germany has been hit by a number of perhaps unexpectedly large weather catastrophes, read the full article →