Allianz Germany sees more than 500 million euros claim from recent storm Reuters

2/2

© Reuters. File photo: On July 20, 2021, damage occurred in an area affected by a flood in Schulder, Germany due to heavy rains. REUTERS/Thilo Schmuelgen/File Photo

2/2

MUNICH (Reuters)-German insurance company Allianz (Germany) said on Tuesday that it expects to claim more than 500 million euros ($589 million) from the Bernd Storm, which caused catastrophic flooding in parts of western Germany earlier this month.

This is Germany’s largest insurance company’s first estimate of claims for floods extending from the western city of Cologne to southern Bavaria. The floods caused houses to collapse, residents on roofs were trapped, and cars were washed away. At least 180 people were killed.

The German insurance industry association GDV said last week that insured losses caused by floods in western Germany could total between 4 billion and 5 billion euros.

Allianz said it has received claims for approximately 10,000 houses and 3,000 cars, but expects to receive a total of 30,000 claims for houses and 5,000 cars.

Allianz stated that it has 230 claims experts in the affected areas to assess losses.

(1 USD = 0.8495 Euro)

Disclaimer: Converged Media I would like to remind you that the data contained on this website may not be real-time or accurate. All CFDs (stocks, indices, futures) and foreign exchange prices are not provided by exchanges, but by market makers. Therefore, prices may be inaccurate and may be different from actual market prices. This means that prices are indicative. Suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses that you may suffer as a result of using this data.

Converged Media Fusion Media or anyone related to Fusion Media will not be liable for any loss or damage caused by relying on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *