Precise assessment of the insured losses for flooding in Germany, Austria and the Czech Republic still not clear

German flood

Hannover Re has made an initial loss estimate for the summer floods that have affected much of central Europe.

Based on its written reinsurance treaties, the company believes its net loss may exceed €100m euros, but will be significantly less than €200m euros.

Heavy rain has brought flooding to Germany, Austria and the Czech Republic in recent weeks with huge areas of land affected.

Hannover Re said that it was still too early to make a precise assessment of the insured losses as more accurate damage surveys would be possible only once the floods had receded.

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