Natural catastrophes in Germany: 5.4 billion USD of insured losses in 2023

The most recent report by the German Insurance Association (GDV) indicates that insured losses caused by natural disasters amounted to 4.9 billion EUR (5.4 billion USD) in 2023.

3.6 billion EUR (4 billion USD) of this amount relates to property damage. Motor claims reached 1.3 billion EUR (1.4 billion USD).

The past year was marked by violent storms in August, accompanied by thunderstorms and hail.

These meteorological events alone have cost the German market 1.5 billion EUR (1.7 billion USD), or 30.6% of the total damage.