December 28, 2016 / 10:52 AM / 4 years ago

Storms cost German insurers $2.1 billion in 2016: GDV

FRANKFURT (Reuters) - German insurers paid out around 2 billion euros ($2.1 billion)for claims from storms, hail and heavy rainfall this year, less than the multi-year average of 2.4 billion, insurance trade body GDV said on Wednesday.

Storms that struck Germany in late May and early June, bringing torrential rain and hail, accounted for around half of the 2016 claims, GDV said in a statement.

The trade body - which represents insurers including Allianz, Munich Re Ergo and Talanx - said the heavy rainfall, brought by low pressure systems Elvira and Friederike, was the most costly ever in Germany.

“Never before have storms with heavy rainfall caused such large amounts of damage in such a short time,” GDV President Erland said.

Reporting by Maria Sheahan; Editing by Tina Bellon

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