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German Insurers’ 2021 Claims Could Reach €11.5B ($13.6B) After Floods, Hail

September 2, 2021

German insurers face claims of about 11.5 billion euros ($13.6 billion) in 2021 after extensive flooding and hail storms, Germany’s insurance lobby GDV said on 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 euros.

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