Hannover Re incurs disproportionately low losses from hailstorm Andreas

A series of particularly severe local hailstorms caused considerable losses in Germany over the summer months. The most costly of these for the insurance and reinsurance industry was hailstorm Andreas; the market loss is estimated to be at least EUR 2.5 billion.

Hannover Re currently anticipates a net loss in the order of EUR 64 million for this event; relative to its market share, the impact on the company was therefore disproportionately slight.