German insurers may face highest claims from natural disasters since 2013

Rising water rushes through German town of Kyllburg
A view of a flooded area in Kyllburg, Germany July 15, 2021, in this picture obtained from social media. TWITTER/@ReneNijholt/via REUTERS

July 15, 2021

SEEON-SEEBRUCK, Germany (Reuters) – Germany’s insurance industry may face the highest claims from storms, floods, heavy rain and hail since 2013 this year, the head of industry association GDV said on Thursday.

Early estimates of damage from rain and floods that have left at least 19 dead in Germany should be available next week, he said.

Eight years ago, property and casualty as well as auto insurers recorded 9.3 billion euros ($11.0 billion) in claims from natural catastrophe damage in Germany. The second most expensive year since then was 2017, with just over 3 billion euros of claims.

($1 = 0.8458 euros)

(Reporting by Alexander Huebner; Writing by Maria Sheahan, editing by Kirsti Knolle)