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 →

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 →

Loss from storm Ela hits $2.5B. 2014 insured catastrophe losses reach $17B

The world's largest reinsurer Munich Re has provided the highest insurance industry loss estimate for European severe hail and wind storm Ela, which struck Germany, France and Belgium on 9th June, in an update on 2014 insured natural catastrophe losses. The first estimates for storm Ela came from the German insurance read the full article →

Reported insured losses from storm Ela’s wind and hail pass $2 billion

Wind and hail storm Ela, which struck Europe on June 9th and 10th affecting large areas of France, Germany and neighbouring countries, now looks to have caused at least $2 billion of insurance industry losses. The German insurance industry association GDV said it had counted claims of nearly $900m (€650m) from read the full article →

Germany storm Ela’s $900m loss could hit collateralized reinsurance

Wind and hail storm Ela which caused approximately $900m of insured losses when it struck Germany on 9th - 10th June, is second most damaging summer storm seen in fifteen years according to the country's insurance association. Update: The reported insurance industry losses from Ela now pass $2 billion. Ela brought damaging read the full article →

MSI GuaranteedWeather and HDI-Gerling partner on weather insurance for Germany

MSI GuaranteedWeather and insurer HDI-Gerling have formally announced a recent partnership to offer weather risk management and weather insurance products to the German market. The strategic relationship with HD- Gerling is MSI GuaranteedWeather's latest effort to grow their presence in the European weather risk market. HDI-Gerling, as part of the read the full article →