German flood losses now expected to reach EUR7bn: GDV
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German flood losses now expected to reach EUR7bn: GDV

Luke Harrison
27 August 2021
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GERMANY-WEATHER-FLOODS-STORMS
AFP via Getty Images

The German Insurance Association (GDV) has said that it expects insurance losses as a result of severe flooding to reach around EUR7bn ($8.25bn), according to its CEO Jörg Asmussen, who made the comments in Berlin on Wednesday.

Of this, around EUR6.5bn of losses are said to come from the residential buildings, household contents and business claims, and around EUR450m will come from auto claims.

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