Insured losses from western German floods may total 4-5 billion euros - trade body

Gemany's insurance industry association GDV said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.


BERLIN:

Insured losses from floods in western Germany last week may total 4 billion to 5 billion euros ($4.7-5.9 billion), insurance industry association GDV said on Wednesday.

It said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.

The estimate does not include losses from floods in the southern German state of Bavaria and in Saxony in the east last weekend, the association said.


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