The figure is gross of reinsurance. Allianz has received 10,000 claims for damage to properties and household effects and 3,000 claims for damage to vehicles, but it expects far more.
Jochen Haug, chief claims officer at Allianz Versicherungs-AG, said the company ultimately expected more than 30,000 claims for property damage and 5,000 for vehicle damage, bringing a total insured loss of EUR500mn.
Haug added that the firm had sent 80 in-house and 150 external claims experts to the affected areas to assess the damage, as well as deploying 100 emergency generators and 1,000 drying devices to customers.
Earlier today, the German insurance association Gesamtverband der Deutschen Versicherungswirtschaft increased its estimate for losses arising from this month’s floods from EUR4bn-EUR5bn ($4.7bn-$5.9bn) to EUR4.5bn-EUR5.5bn.
