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German insurers face $1.4bn bill from Elvira, Friederike storms & floods

The German insurance industry is facing a loss of $1.4 billion (EUR1.2 billion) from the two storms Elvira and Friederike, as well as other severe weather, which struck the country from May 27th to June 9th 2016, according to association the GDV.The GDV (or Gesamtverband der Deutschen Versicherungswirtschaft) has now read the full article →

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 →

Summer storm floods & hail hit Germany, France, Czech Republic again

The trend of European and central European countries being hit by convective style severe weather, thunderstorms, rainfall and flooding continues in 2016, with Germany, France and the Czech Republic all suffering in recent days.Update 4th June 2016: Paris & France floods & storms could cost insurers over EUR2bn: MAIF.Update 3rd read the full article →

Euro windstorms, UK floods add up to meaningful insurance losses

The procession of severe European windstorms continues to impact the UK and northern Europe, while severe flooding across the UK and northern France worsens, with financial losses for the insurance and reinsurance industry now rising fast.The winter weather affecting northern Europe continues, with two more named European windstorms striking the read the full article →

Losses mount in worst European winter storm season since 1990

The winter storm season in Europe looks set to add additional pressure to any insurers and reinsurers that are already feeling the pinch due to declining property catastrophe renewal rates, as losses from European windstorm and flooding start to mount.Both sides of the Atlantic are experiencing unusually severe winter storm read the full article →

European flooding to cost insurance industry up to $4.5 billion: Swiss Re

Global reinsurance firm Swiss Re has published an estimate of its own losses from the recent central and eastern European flooding events and provided an estimate of the insured loss total for the industry as well. Swiss Re estimates its own losses to be approximately $300m, net of retrocession and read the full article →

Insurance-linked investment managers say no impact from European floods

Two investment managers of reinsurance-linked investment funds have announced that while the recent flooding in Europe could become one of the most expensive insured loss events in the region, they do not expect it to have any impact on the performance of their funds, at this time.Credit Suisse, the manager read the full article →

AIR puts insured losses from German floods at up to EUR 5.8 Billion

Risk modelling firm AIR Worldwide has released an estimate for insured losses in Germany resulting from the recent flooding events across Central Europe. AIR estimates insured losses in Germany to be between €4 billion and €5.8 billion, that's up to $7.7 billion in USD. The flood event is ongoing so read the full article →

European floods could produce record losses in Germany: Fitch

Fitch Ratings has said in an update that it expects the recent European flooding, which hit Central Europe particularly hard, may cause insured losses of €3 billion in Germany alone. In the update published yesterday 11th June, Fitch said it expects the floods in Europe this year will be even read the full article →