Home News Alliance provides exposure to "Xynthia" at 100 million to 300 million EUR

Alliance provides exposure to "Xynthia" at 100 million to 300 million EUR

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MUNICH (Dow Jones) – The winter storm "Xynthia" has been estimated by the alliance with the terms of Premium to Europe’s biggest insurer Burden of losses from 100 million to 300 million EUR conducted. As the Head of Research and Development of a reinsurance subsidiary Allianz Re, Silvio Tschudi, on Thursday in Munich said that includes this initial estimate of the Allianz insured losses in Germany, France, Spain and Portugal.
The risk analysis of disasters on the specialist Company AIR Worldwide estimates that the result of winter storm "Insured Xynthia caused" losses in France, Belgium, Germany and the Netherlands amount to 1.5 billion to 3 billion EUR will. The strong Orkantief reached the end of February to the north of Spain and Portugal. It then moved through France to Germany.
Thus was "Xynthia" schadensärmer failed as a similar storms of the past, sources said. The storm belong in its effects, the strongest storm events of last 20 years, but remain behind the storms "Lothar" and "Cyril" back, informed Allianz Re.
The cold and snowy winter 2009/10 in Germany had before particularly an accumulation of smaller claims produced. This included falls on icy sidewalks, broken pipes, or weather-related closures, the first results.
The cold winter is not proof for or against a Climate change, "said Tschudi. Particularly cold winters or extremely hot Summer, there had been time and again. Tables and studies indicated that the global temperature actually rose. At the same time would take the amount of precipitation in the form of heavy rain or Snowstorms too.
Severity and frequency with the damage potential of a climb and Natural event, it was said. Resulted With rising now 40% of the damage in the Alliance Industrial insurance from natural disasters. "Over the last thirty years have the insurance benefits for victims of Increased fifteen-fold weather-related disasters, "said Markus Stowasser, Meteorologist in Tschudi’s team. "According to our estimates, the Insured losses from 2010 to 2019 averaged 41 billion USD increase per year. "

   

Website: www.allianz.com
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March 04, 2010 06:15 ET (11:15 GMT)