German insurers face 2021 claims of $13.6 billion
- May 21, 2025
- Posted by: Web workers
- Category: Finance
(Reuters) — German insurers face claims of about €11.5 billion ($13.6 billion) in 2021 after extensive flooding and hailstorms, Germany’s insurance lobby GDV said Thursday.
It could be the most expensive year for insurers since the GDV began keeping statistics in the early 1970s, it said.
This year could exceed 2002, when flooding cost €11.3 billion in claims. The long-term average for claims is around €3.8 billion.
The flooding from storm Bernd in July stretched from an area close to the western city of Cologne down to southern Bavaria, causing houses to collapse, stranding residents on rooftops and sweeping away cars. At least 180 people were killed.
The episode will result in claims of around €7 billion.
Hailstorms in June resulted in around €1.7 billion in insured damages.
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