Vienna Insurance Group AG, Austria’s biggest insurer, reported second-quarter profit plunged after the worst central European floods in a decade caused damage compensation to triple. The shares fell. Pretax profit for the period ending June 30 dropped 69 percent to …
German reinsurer Munich Re saw its first-quarter net profit fall 33 percent to 543 million euros ($722 million) as losses from floods in central Europe weighed on earnings. The company said Tuesday it paid out 230 million euros in claims …
Aspen Insurance Holdings Ltd. said second-quarter losses from natural disasters were about $59 million before tax. Flooding in Central Europe accounts for more than half the cost, Bermuda-based Aspen said in a statement distributed by Business Wire. (Editor: Dan Kraut)
Major flooding continued across Central Europe during the first half of the month, killing at least 23 people and resulting in combined economic losses of up to $22 billion, and insured losses tentatively estimated at approximately $5.3 billion, according to …
A leading insurance company says last month’s floods across central Europe will likely cost insurers up to $4.5 billion. The Elbe, the Danube and other rivers overflowed their banks in early June following persistent heavy rain, causing extensive damage in …
Hungary was set to contain the Danube river from overflowing in Budapest while the economic toll grew in eastern Germany, where thousands of people have been forced to evacuate along the Elbe River. Hungarian authorities are “in control” of the …