Several European insurance companies are facing their largest losses in decades in connection with the European disaster weather last week.
The damages are estimated to have cost up to three billion euros, equivalent to 34 billion kronor, according to the reinsurance company Gallagher Re, and the scope continues to increase.
Large insurance companies such as Austrian VIG and UNIQA, Polish PZU, as well as global companies Generali and Allianz are all exposed to large costs.
Storm Boris struck with heavy persistent rain against Central Europe on 12-15 September and left large areas of land and properties under water. The water levels are still high and are expected to continue to rise.
