Natural disasters in Germany: cost of insured damage in 2022

According to the German Insurance Association (GDV), insured losses generated by natural catastrophes have reached 4.3 billion EUR (4.6 billion USD) in 2022. This amount makes 2022 an average year in terms of natural catastrophe losses.

The most costly climatic events were the February storms Ylenia, Zeynep, Antonia with a 1.4 billion EUR (1.5 billion USD) cost for the insurance industry. This was considered the third most violent series of storms since 2002.

In 2021, German insurers suffered losses amounting to 12.6 billion EUR (14.3 billion USD) as a result of damages caused by climatic events. This makes 2021 the most expensive year in terms of natural catastrophes for the local market since 1970. The devastating floods which occurred in July 2021 have single handedly accounted for 8.5 billion EUR (9.6 billion USD) of insured damages.