Monday, 17 June 2013

German insurance company pays the price for recent flooding

Insurance Insight published a report today saying that German reinsurer Hannover Re said today its net loss from the recent flooding in Central Europe could exceed €100m.


In a statement released today the Talanx-owned reinsurer said: "Hannover Re has made an initial loss estimate based on its written reinsurance treaties. The company anticipates that its net loss may exceed €100m, but should remain significantly below €200m"

It added: "Hannover Re sees no threat to Group net income for 2013 despite flood losses."

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