Climate change
R+V Versicherung must pay more for elementary damage
Flood and heavy rain: The effects of climate change have also been clearly felt for insurers in 2024. The R+V Versicherung presents its annual balance sheet.
In the event of damage caused by natural hazards, the rising trend continues according to the Wiesbaden R+V insurance. There were no major major events such as the Ahr Valley flood in the past financial year. But also in an average year of damage there was a continuous increase, the insurance company said to present the 2024 annual balance sheet. “The effects of climate change can be clearly felt.”
The financial year 2024 was characterized by small and medium -sized events in terms of elementary damage, explained the R+v. The damage volume in elementary damage insurance was 442 million euros after 391 million euros a year before. Board member Klaus Endres cited the flood as a result of heavy rain in Bavaria and Baden-Württemberg in early summer as an example of a major damage event last year.
The total amount of damage in damage and accident insurance has increased by 3.9 percent to 5.5 billion euros due to the still high inflation. The increasing costs for repairs and spare parts are particularly noticeable in the largest division, the car insurance, the insurance company explained.
The R+V ended the 2024 financial year with a group result before taxes of 1.3 billion euros. Thanks to a good investment result, the previous year’s result (EUR 933 million) was significantly exceeded, explained the CEO Norbert Rollinger. In the case of contributions, the domestic primary insurance business increased by 2.8 percent to 16 billion euros. The number of employees rose by around 720 to 18,392 compared to the previous year. The R+V Versicherung belongs to the DZ Bank Group.
dpa
Source: Stern
