Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Germany - Damage caused by “Sabine” estimated at 600m Euros

Wednesday, 02 12 2020, Category: Nature, Country: Germany
Blown trees, road closures and power cuts: According to expert estimates, German insurers are responsible for more than half a billion euros for the consequences of the hurricane depression “Sabine”. After all, no comparison with the devastating hurricane “Kyrill”, which made Europe unsafe in 2007.

The actuaries of the Cologne-based consulting company Meyerthole Siems Kohlruss (MSK) estimated the insured damage from hurricane depression “Sabine” on Tuesday to around 600 million euros.

The winter storm swept across Germany on Sunday and Monday at wind speeds of more than 100 kilometers per hour. 500,000 damage to buildings alone can be expected, explained MSK actuary Onnen Siems.

However, it cannot be compared with the hurricane “Kyrill” from 2007, which had cost the industry around three billion euros according to today’s values. “Sabine” will be a medium-sized event for insurers, as happens every three to four years. The storm season is not over for this winter.

The cold front of hurricane deep “Sabine” has already left Germany, but the weather remains stormy. In the south of the Federal Republic, the police stations reported a large number of fallen trees even at night. In the Freiburg region and in the Upper Black Forest, emergency services went on numerous missions, many roads were still closed in the early morning. In southern Bavaria, trees and power cuts lying on the streets kept the emergency services busy.

Source: mbs
All copyrights reserved, Arab Reinsurance 2016 ©