By Carolyn Cohn and Tom Sims
LONDON/FRANKFURT (Reuters) -Reinsurance losses from the recent European floods are likely to total $2-3 billion, Berenberg analysts said on Monday, but the bank and industry experts said overall losses could be much higher.
Flooding has devastated parts of Western Europe since last Wednesday, with the German states of Rhineland Palatinate and North Rhine-Westphalia, as well as parts of Belgium, among the worst hit.
"The European floods are estimated to have cost the reinsurance industry several billions of dollars - we estimate between $2-3 billion," Berenberg said in a client note.
Other experts on Monday were scrambling to put a price tag on the total damage.
Reimund Schwarze, researcher with the Helmholtz Zentrum fuer Umweltforschung in Leipzig, said economic damage is expected at around 6 billion euros ($5.08 billion).
"It would be the most damaging heavy rain event that Germany has ever experienced," he said.
For others, it was too early to make a call other than to say the damage would cost several billion euros.
Kai Schroeter, a researcher with GFZ German Research Centre for Geosciences in Potsdam, said important data sources to estimate damage were still not available, including maps of flooded areas and questions about other "cascading impacts" like oil spill.
"The situation is quite complex," he said.
Berenberg also said overall losses would likely greatly exceed insured losses, with only around 45% of buildings in Germany insured against flood and heavy rain. In Belgium, such policies were standard so insurance coverage for the flooding was likely to be higher, the bank added.
Germany's insurance industry may face the highest claims from storms, floods, heavy rain and hail since 2013, the head of industry association GDV said last week.
Severe weather in Europe between June 17 and 30 had already caused estimated insurance losses of a record $4.5 billion in the region, surpassing $4.3 billion set by Storm Andreas in 2013, insurance broker Aon (NYSE:AON) said in a report earlier this month.
But mitigation measures put in place across Europe following previous floods had prevented last week's flooding from becoming even more widespread, risk modelling firm RMS said.
Berenberg said major European firms Allianz (DE:ALVG), AXA, Generali (MI:GASI) and Zurich were likely among the insurers facing the biggest claims from the July floods.
Allianz would likely face claims of 200-300 million euros, AXA of 100-120 million euros, Generali of 200-250 million euros and Zurich of $140 million, Berenberg said.
EUR/USD
1.0796
-0.0030 (-0.28%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
EUR/USD
1.0796
-0.0030 (-0.28%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
GBP/USD
1.2629
-0.0009 (-0.07%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (7)
USD/JPY
151.34
+0.01 (+0.01%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (8)
Sell (0)
AUD/USD
0.6519
-0.0014 (-0.21%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (0)
Sell (7)
USD/CAD
1.3540
-0.0027 (-0.20%)
Summary
NeutralMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (7)
Sell (1)
EUR/JPY
163.33
-0.42 (-0.26%)
Summary
↑ SellMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (0)
Sell (6)
EUR/CHF
0.9732
-0.0054 (-0.55%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (6)
Sell (1)
Gold Futures
2,234.75
+22.05 (+1.00%)
Summary
↑ SellMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (0)
Sell (8)
Silver Futures
24.863
+0.111 (+0.45%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (8)
Copper Futures
4.0018
+0.0018 (+0.05%)
Summary
↑ SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (0)
Sell (7)
Crude Oil WTI Futures
82.58
+1.23 (+1.51%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (5)
Sell (3)
Brent Oil Futures
86.42
+1.01 (+1.18%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (2)
Sell (5)
Natural Gas Futures
1.726
+0.008 (+0.47%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (5)
US Coffee C Futures
189.53
-1.12 (-0.59%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (7)
Sell (1)
Euro Stoxx 50
5,084.65
+2.91 (+0.06%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
S&P 500
5,252.69
+4.20 (+0.08%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (10)
DAX
18,498.15
+23.09 (+0.12%)
Summary
BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (3)
Sell (2)
FTSE 100
7,964.38
+32.40 (+0.41%)
Summary
NeutralMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (5)
Sell (2)
Hang Seng
16,541.42
+148.58 (+0.91%)
Summary
NeutralMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (3)
Sell (1)
US Small Cap 2000
2,134.20
+19.85 (+0.94%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (0)
Sell (10)
IBEX 35
11,067.50
-43.80 (-0.39%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (0)
Sell (7)
BASF SE NA O.N.
52.885
-0.365 (-0.69%)
Summary
SellMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (3)
Sell (4)
Bayer AG NA
28.43
0.01 (0.04%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (5)
Allianz SE VNA O.N.
277.77
+0.32 (+0.12%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Adidas AG
206.70
+2.00 (+0.98%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
Deutsche Lufthansa AG
7.293
+0.116 (+1.62%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (2)
Siemens AG Class N
176.90
-0.02 (-0.01%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Deutsche Bank AG
14.567
-0.045 (-0.31%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
EUR/USD | 1.0796 | ↑ Sell | |||
GBP/USD | 1.2629 | ↑ Sell | |||
USD/JPY | 151.34 | ↑ Buy | |||
AUD/USD | 0.6519 | Neutral | |||
USD/CAD | 1.3540 | Neutral | |||
EUR/JPY | 163.33 | ↑ Sell | |||
EUR/CHF | 0.9732 | Neutral |
Gold | 2,234.75 | ↑ Sell | |||
Silver | 24.863 | ↑ Sell | |||
Copper | 4.0018 | ↑ Sell | |||
Crude Oil WTI | 82.58 | ↑ Buy | |||
Brent Oil | 86.42 | Neutral | |||
Natural Gas | 1.726 | ↑ Sell | |||
US Coffee C | 189.53 | ↑ Buy |
Euro Stoxx 50 | 5,084.65 | ↑ Sell | |||
S&P 500 | 5,252.69 | ↑ Sell | |||
DAX | 18,498.15 | Buy | |||
FTSE 100 | 7,964.38 | Neutral | |||
Hang Seng | 16,541.42 | Neutral | |||
Small Cap 2000 | 2,134.20 | Sell | |||
IBEX 35 | 11,067.50 | ↑ Sell |
BASF | 52.885 | Sell | |||
Bayer | 28.43 | ↑ Sell | |||
Allianz | 277.77 | ↑ Buy | |||
Adidas | 206.70 | Buy | |||
Lufthansa | 7.293 | Neutral | |||
Siemens AG | 176.90 | ↑ Buy | |||
Deutsche Bank AG | 14.567 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 7,880/ 8,050 (0/ 0) # 1,398 |
SJC HCM | 7,900/ 8,100 (10/ 10) # 1,450 |
SJC Hanoi | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Danang | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Nhatrang | 7,900/ 8,102 (10/ 10) # 1,452 |
SJC Cantho | 7,900/ 8,102 (10/ 10) # 1,452 |
Cập nhật 28-03-2024 23:13:12 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$2,216.20 | +25.18 | 1.15% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 24.690 | 25.180 |
RON 95-III | 24.280 | 24.760 |
E5 RON 92-II | 23.210 | 23.670 |
DO 0.05S | 21.010 | 21.430 |
DO 0,001S-V | 21.640 | 22.070 |
Dầu hỏa 2-K | 21.260 | 21.680 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $82.21 | +4.78 | 0.06% |
Brent | $86.23 | +4.59 | 0.06% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 24.580,00 | 24.950,00 |
EUR | 26.018,34 | 27.446,04 |
GBP | 30.390,95 | 31.684,00 |
JPY | 158,69 | 167,96 |
KRW | 15,84 | 19,20 |
Cập nhật lúc 18:53:18 28/03/2024 Xem bảng tỷ giá hối đoái |