Reinsurance News
German Insurance Association
German insurers propose Elementar Re safeguard system for nat cats
9th December 2025
The German Insurance Association (GDV) has unveiled a framework to ensure that protection against natural catastrophes remains widely available, affordable, and sustainable over the long term, centred on a new reinsurance vehicle called Elementar Re. With the Elementar Re model, the GDV said insurers are presenting a "concrete proposal" for how ... Read the full article
Fitch upgrades German non-life insurance sector outlook to ‘improving’
18th June 2024
Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from 'neutral' to 'improving,' driven by expectations of heightened profitability fuelled by robustly increasing premium rates. Despite some European counterparts, recent ... Read the full article
German Insurance Association expects recent flooding to cost insurers around €2bn
10th June 2024
The German Insurance Association (GDV) reported last week that torrential rains and flooding in Bavaria and Baden-Württemberg, between May 31st and June 4th, is expected to result in insured losses of around €2 billion (USD 2.15bn). The floods damaged homes, businesses, infrastructure, and farmland across parts of southern Germany, prompting the ... Read the full article
Insurance economists forecast high inflation to persist well into 2023: GDV
30th December 2022
During an online panel hosted by the German Insurance Association (GDV), leading economists in the insurance industry suggested elevated inflation rates will persist well into the coming year despite levels easing recently. Munich Re chief economist, Michael Menhart, stated that inflation will fall in 2023, though even by year-end it will ... Read the full article
Germany sees €3bn of nat cat losses in H1: GDV
8th September 2022
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022. GDV General Manager, Jörg Asmussen said, “So far, 2022 has been an above-average claims year. The winter storm series "Ylenia", "Zeynep" and "Antonia" in February alone caused almost 50% ... Read the full article
2021 the costliest year of natural catastrophes in Germany, says the GDV
29th December 2021
The German Insurance Association (GDV) has warned that damage caused by natural catastrophe events in the country in 2021 has cost insurers and reinsurers a record €12.5 billion. The majority of the insured loss total for the year is a result of the devastating flash flood in July and the ... Read the full article
Insured loss from North Rhine-Westphalia & Rhineland-Palatinate floods at €4-5bn: GDV
21st July 2021
The devastating flooding experienced in the German states of North Rhine-Westphalia and Rhineland-Palatinate is expected to drive insurance and reinsurance industry losses of between €4 billion and €5 billion, according to the German Insurance Association (GDV). Last week’s flooding impacted parts of Central and Western Europe, including Belgium, the Netherlands, and ... Read the full article
Storms, hail & heavy rains drive €1.3bn of losses for German insurers in H1: GDV
28th August 2019
Natural hazards in the first-half of 2019 in Germany, underpinned by storms, hail, lightning and heavy rains, resulted in insured losses of €1.3 billion (USD 1.44 billion), according to the German Insurance Association (GDV). The €1.3 billion loss total represents damages from natural hazards in H1 2019 in Germany to both ... Read the full article
Series of Munich area storms to cost insurers €650mn: German Insurance Association
18th June 2019
The German Insurance Association (GDV) has said that insurers and reinsurers are set to pay out €650 million (USD 727 million) as a result of a series of hail storms that hit the Munich area of Germany around the Pentecost holiday. Actuaries had previously estimated that one of the severe hail ... Read the full article
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