Insurance Day
Allianz flood losses
By Herbert Fromme, Munich
GERMAN market leader Allianz expects net losses of E550m as a result of the floodings in Germany, Austria and the Czech Republic,
the company said yesterday, writes Herbert Fromme, Munich. Its gross payouts to customers are expected to run to E815m, of
which E580m would be due in Germany, E120m in Austria and the Czech Republic E115m.