Heavy rainfall caused localised severe flooding in Baden-Württemberg and Bavaria this week. Both events were intense but localised, each affecting only a handful of towns. The risk of further heavy rainfall events is decreasing the next few days.
Furthermore, flooding is ongoing in Paris and along the Seine upstream and downstream of Paris. The water level of the Seine in Paris is still more than 2 metres below the water level of the great flood in 1910 and should stay below the level in 1982. The flood is expected to peak today and flood levels to recede later today.
It is too early to get an overview of insured losses. Currently, there is no impact on Cat Bonds expected. Twelve is monitoring the situation.
Friday, 03 June 2016