Floods in Germany generate up to 2.15 billion USD in insured losses

Initial estimates provided by the German Insurance Association (GDV) suggest that insured losses resulting from the recent flooding in the south of the country could reach 2 billion EUR (2.15 billion USD). This is a provisional figure, as the floods have not yet subsided.

Since the end of May 2024, the southern German States of Bavaria and Baden-Württemberg have been facing massive flooding triggered by heavy rainfall. At least five people have lost their lives as a result of the flooding, which has also caused extensive material damage.

In recent months, several regions of the country have been affected by major flooding. In December 2023, a similar disaster in northern and central Germany set the local insurance market back by almost 200 million EUR (215 million USD).