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Insured losses from western German floods may total 4-5 billion euros – trade body

© Reuters. Damages are seen in an area affected by floods caused by heavy rainfalls in Schuld, Germany, July 20, 2021. REUTERS/Thilo Schmuelgen/Files

BERLIN (Reuters) – Insured losses from floods in western Germany last week may total 4 billion to 5 billion euros ($4.7-5.9 billion), insurance industry association GDV said on Wednesday.

It said the floods in the states of North Rhine-Westphalia and Rhineland-Palatinate are likely to exceed the 4.65 billion euros of damage recorded following a deluge in August 2002.

The estimate does not include losses from floods in the southern German state of Bavaria and in Saxony in the east last weekend, the association said.

($1 = 0.8496 euros)

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