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International

Germany: Insurance claims for damage from July hailstorm may exceed $800 million

August 26, 2013 Reprints

Industrywide insurance claims for damage caused by the July hailstorms in Germany are estimated to exceed €600 million ($801.3 million), Reuters reported.

German insurer SV SparkassenVersicherung A.G. raised its damage claims estimate to €600 million. The storm caused €40 million worth of damage every minute. Munich Reinsurance Co. executive Torsten Jeworrek said reinsurance claims are likely to exceed €10 million.

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Germany: Insurance claims for damage from July hailstorm may exceed $800 million

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