Storms and thunderstorms: double the damage for allianz

storms and thunderstorms: double the damage for allianz

Payments to insurance customers rose 63 percent to 485 million euros, the company announced in munich on thursday. The number of damages has even increased to over 300 within the year.000 almost doubled. Meanwhile, average claims were almost one-fifth lower at just over 1600 euros.

Especially the autumn storms "xavier" and "herwart" hit the ground hard. In october alone, payments totaled 124 million euros. In the summer, 250 million also ran up after heavy thunderstorms. Almost 80 percent of all damage in 2017 was caused by storms and hail, it hailed. This was followed by lightning and overvoltage, as well as flooding and heavy rain, said jochen haug, chief claims officer at allianz versicherungs-AG. For farmers, a cold snap in april was painful. The late frost hit plants that had already grown far; winegrowers and fruit growers suffered crop failures.

Allianz also has to contend with heavy losses in the current year. In the first six months of the year, it probably paid out 392 million euros – a good 170 million euros more than in the same period last year – mainly due to the storms "friederike" and "burglind. "Friederike" passed over germany in january, claiming several lives and causing hundreds of millions in property damage.

At group level, however, allianz was able to cope with the higher losses. Thanks to strong asset management, the insurer had earned more than expected in the second quarter.

Leave a Reply

Your email address will not be published. Required fields are marked *