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Hannover Re expects up to $300 million net loss from European floods

Posted On: Aug. 6, 2021 10:21 AM CST

German reinsurer Hannover Re SE expects to record up to a €250 million ($297 million) net loss from the recent deadly floods that ravaged parts of Europe, especially Germany, Artemis reported. Meanwhile, the reinsurer’s net income increased 67% year-on-year to €670.6 million in the first half of the year.