According to a preliminary estimate, the gross impact on the Allianz Group due to the current floods in Germany, Austria and part of Central Europe is probably above 0.5 billion euros. The size of this natural catastrophe will trigger reinsurance covers for Allianz, limiting the net loss to approximately 350 million euros.
First estimates of impact on Allianz from flood in Germany and neighboring countries
Allianz will update figures of the flood impact with the release of its second quarter results on August 2, 2013.
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