Natural hazards caused insured losses of around EUR 950 million in Germany in the first half of 2026, broadly unchanged from the same period last year, according to the German Insurance Association (GDV). The relatively moderate claims bill was mainly due to the absence of major winter storms.

Of the total, storms and hail accounted for around EUR 400 million in insured property losses, down from EUR 500 million in 1H2025. By contrast, losses caused by other natural hazards, including heavy rainfall and flooding, doubled year-on-year to approximately EUR 200 million, from EUR 100 million.

Natural hazard losses in motor insurance amounted to around EUR 350 million, the same level as in the first half of 2025.

Despite the relatively benign first-half claims experience, GDV stressed that the longer-term trend remains worrying. Average annual natural hazard losses in property insurance have increased substantially: losses related to natural perils averaged around EUR 1.4 billion per year between 2000 and 2009, compared with approximately EUR 2.4 billion annually during 2016-2025.

According to GDV Managing Director Jörg Asmussen, the comparatively low losses recorded in 1H2026 should not be interpreted as an easing of climate-related risks. He pointed to the record temperatures registered during this summer and warned that individual severe weather events can still generate substantial losses.

For the full year 2026, GDV expects storm and hail losses of around EUR 2 billion, including agricultural crop insurance, assuming an average second half of the year. This compares with an estimated long-term annual average of approximately EUR 3.1 billion based on today's insurance portfolio and price levels.

Losses from other natural hazards are forecast at around EUR 1 billion for the full year, versus a long-term average of approximately EUR 1.8 billion. In motor insurance, GDV expects around 300,000 natural hazard claims, generating losses of between EUR 1.2 billion and EUR 1.3 billion in 2026.

Against this background, the German insurance industry continues to advocate a comprehensive natural hazard protection framework combining widespread voluntary insurance coverage with an opt-out mechanism, mandatory prevention and climate adaptation measures, and a public-private partnership for extreme risks.

GDV is also calling for stricter risk-sensitive planning and construction rules, restrictions on new construction in flood-prone areas, a nationwide natural hazard risk certificate, measures to reduce soil sealing and mandatory climate-risk assessments as part of building permit procedures.

Source: GDV – German Insurance Association