Loss analysis of flood "Bernd"

The 2021 European flood event, mainly due to the "Bernd" low-pressure area, was the most significant domestic flood event and, globally, it is one of the most expensive flood events of the last few decades.

In the coming years, it is expected that far more people and regions will be affected by flood losses than previously assumed. This danger is not only due to meteorological circumstances, but is also affected by economic factors, changes in geographical conditions and social developments. Now, at the latest, it is time for us in the (re)insurance industry to prepare ourselves accordingly and to act appropriately.

After the consequences of "Bernd" had hit the insurance and reinsurance industry, particularly in Germany, we decided to analyse the special features of this significant event.

Transparency of data

18 companies have thankfully provided us with their data across several countries, with our analysis being limited to Germany. This means we were able to ensure that the pool of participants was sufficiently large. Although other countries were also affected by "Bernd", we were unable to achieve the critical mass of data and participants here and therefore decided not to carry out further benchmark studies for other European countries.

Focus areas of the report:

  1. General loss information broken down by line of business and insurance.
  2. Analysis of insured values and losses rates.
  3. Results of the losses evaluation with regard to the risk locations and flood zones. Only those losses that contained exact location information could be included in the analysis.

Learning from losses is part of the process of being better prepared and better protected next time. This is precisely what the present study has in mind: the evaluation and treatment of the largest natural disaster that Germany has suffered so far.

Loss analysis of flood "Bernd"

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