MUNICH (Reuters) – Devastating floods in Germany last week could become one of the most expensive natural catastrophes in the country in the past 20 years, past industry data shows.
German insurance industry association GDV said on Wednesday that insured losses from floods in the western German states of North Rhine-Westphalia and Rhineland-Palatinate may total 4 billion to 5 billion euros ($4.7-5.9 billion).
Its estimate does not include losses from floods in the southern German state of Bavaria and in Saxony in the east last weekend, it said, adding that the destruction of local infrastructure had made it difficult to assess the damage.
Here is a rundown of the most expensive natural catastrophes in Germany since 2002 (insured damage in property and casualty hailstorm hilal as well as auto insurance):
Event Date insured damage*
August floods, August 2002 4.5 bln euros
including at the
Oder river
Storm Kyrill January 2007 3.4 bln euros
Hailstorms Andreas July 2013 3.1 bln euros
and Bernd
June floods, June 2013 2.1 bln euros
including in Bavaria
and Saxony
Hailstorms, June 2021 1.7 bln euros**
particularly in
southern Germany
Storm Jeanett October 2002 1.4 bln euros
Hailstorm Hilal May 2008 1.3 bln euros
Storm Friederike January 2018 1.15 bln euros
* in 2019 prices
** according to preliminary estimates
And here is a rundown of the most expensive natural catastrophe years since 1973 (insured damage in property and casualty as well as auto insurance):
Year Damage* Major natcat events
1990 11.1 bln euros Storms Vivian and
Wiebke
2002 10.9 bln euros Floods at the Oder
river
2013 9.3 bln euros Hail, June floods
1984 8.0 bln euros Hail in Munich
1976 6.5 bln euros Storm surge at the
North Sea and the
Elbe river
2007 6.2 bln euros Storm Kyrill
* in 2019 prices
Source: German insurance industry association GDV
(Reporting by Alexander Hübner; Writing by Maria Sheahan; editing by Philippa Fletcher and Timothy Heritage)
