"The time for a loss forecast is very early, but our comprehensive database and experience in flood modeling allow a relatively differentiated view of the loss situation," said Aon Germany CEO Jan-Oliver Thofern on Monday. The industry association GDV recently estimated the insured losses at around two billion euros. Aon does not expect prices in natural catastrophe reinsurance to rise as a result of the flooding. It will "not have a significant impact on reinsurance business in Germany".
(Report by Alexander Hübner, edited by Ralf Banser. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
