Hannover Re pegs industry loss estimate for European flooding at EUR5bn-EUR7.5bn
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Hannover Re pegs industry loss estimate for European flooding at EUR5bn-EUR7.5bn

Rachel Dalton
05 August 2021
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GERMANY-WEATHER-FLOODS-STORMS

Hannover Re has estimated that the flooding in Central Europe last month could cost the industry up to EUR7.5bn ($8.9bn) – the highest projection given to date for carriers.

On a call to discuss the firm’s Q2 results this morning, board member for P&C re Sven Althoff said that although it is “extremely early” to make estimates, it expects an industry loss from the flooding of EUR5bn-EUR7.5bn.

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