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Risk Management

Hannover Re estimates European flood losses at more than $100 million

Sarah Veysey

June 17, 2013 Reprints

Catastrophes P/C Insurers Risk Management More + Less -

Hannover Re Group said its losses from recent floods in Austria, the Czech Republic and Germany may exceed €100 million ($133.5 million) but likely will fall “significantly below” €200 million ($266.9 million).

The Hanover, Germany-based reinsurer said Monday that it would not be possible to make more precise loss estimates until flood waters have receded. Could use a sentence about timing, extent of flooding.

Widespread flooding in Central Europe since the beginning of June has left at least 21 people dead.

Hannover Re said in a statement that it remains on track to post net income of about €800 million ($1.07 billion) for 2013.

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Hannover Re estimates European flood losses at more than $100 million

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