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Insured losses from cat events in Germany hit $4.5 billion

Posted On: Dec. 30, 2022 9:42 AM CST

German insurance industry association GDV said that natural catastrophe events in the country caused an estimated €4.3 billion ($4.58 billion) in insured losses this year, Artemis reported. Property insurers are expected to pay out €3 billion for windstorm and hail related losses this year, and a further €400 million for damage caused by other natural hazards such as floods.