Winter storm Kyrill left large areas of Europe with significant damages – most of them involving buildings and vehicles. Within the Allianz Group, Great Britain, Austria, the Czech Republic, Poland, Hungary and Slovakia were significantly affected besides Germany.
Most claims reports were received in Germany. "We anticipate a total of some 230,000 claims. This amounts to net claims in the region of 180 million euros," says Thomas Pleines, Chief Executive Officer of Allianz Versicherungs-AG.
The majority of submitted claims is related to property damages: roofs were partially or completely detached and building facades were affected. Motor vehicle losses caused by fallen trees, branches and other objects were the second most frequent cause of damage.
"Allianz Group’s corporate insurer Allianz Global Corporate & Specialty AG estimates net claims of 35 to 50 million euros over the whole corporate insurance portfolio," says Andreas Shell, Claims Crisis Coordinator for Allianz Group.
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Kyrill: Around 350 million euros in claims for Allianz Group
Based on the current state of knowledge, Allianz Group estimates net claims of around 350 million euros before taxes. The amount of claims is within the scope of expectations based on Allianz’s risk modeling systems.
Storms can cause significant damage
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