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Storm Sabine caused insured damages of 675 mln euros in Germany – GDV

Storm Sabine caused insured damages of 675 mln euros in Germany – GDV

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Storm Sabine caused insured damages of 675 mln euros in Germany – GDV

Storm Sabine caused insured losses of 675 million euros ($731 million) in Germany this month, the GDV insurance association said on Tuesday, making it the 6th most costly storm in Europe’s largest economy since 2002.

Storm Sabine, which was known as Ciara in Britain, last week disrupted air and rail transport in countries like Germany, the Netherlands and Britain.

The damages from the storm include 600 million euros being paid by insurance companies for 500,000 damaged homes, commercial and industrial properties, GDV added. It said an additional 75 million was being paid by auto insurers.

Total insured property losses from Sabine/Ciara could be between 1.1 billion and 1.8 billion euros, catastrophe risk modelling firm RMS estimated on Friday.

 

($1 = 0.9237 euros)

(Reporting by Thomas Seythal Editing by Michelle Martin)

(c) Copyright Thomson Reuters 2020

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