Insured losses from western German floods may total 4-5 billion euros – trade body

Aftermath of heavy rainfalls in Germany
A police vehicle is seen on a makeshift bridge made by members of the Bundeswehr, near the destroyed bridge, following heavy rainfalls along the nearby Ahr river, in Insul, Rhineland-Palatinate state, Germany, July 21, 2021. REUTERS/Christian Mang

July 21, 2021

BERLIN (Reuters) – Insured losses from floods in western Germany last week may total 4 billion to 5 billion euros ($4.7-5.9 billion), insurance industry association GDV said on Wednesday.

It said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.

The estimate does not include losses from floods in the southern German state of Bavaria and in Saxony in the east last weekend, the association said.

($1 = 0.8496 euros)

(Reporting by Maria Sheahan; Editing by Madeline Chambers)