Reinsurers braced for ~EUR5bn loss from historic German flood event
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Reinsurers braced for ~EUR5bn loss from historic German flood event

Rachel Dalton
19 July 2021
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GERMANY-WEATHER-FLOODS-STORMS

Underwriting sources anticipate insured losses could reach as high as EUR5bn ($5.9bn) from the flooding affecting Germany and other central European states, making it an event that will have far-reaching implications for continental cat business.

However, at this early stage there is huge uncertainty around the scale of the loss as flood waters have not yet receded, and reinsurance sources said cedants have provided very little in notifications as yet.

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Rachel Dalton
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