The largest insurance covered damages in Central and Eastern Europe were caused by floods and fires says Generali

The largest damages covered by Generali PPF Holding (GPH) in the past ten years on the non-life segment in Central and Eastern Europe were caused by floods (45 percent), fires (16 percent) and car accidents (16 percent), according to the company’s data.

Floods caused damages worth EUR 81.5 million while damages resulted from fires amounted to EUR 50 million.

The largest damage amounted to EUR 48.5 million and it took place in 2002 in the Czech Republic when a hotel was affected by floods. Romania also makes the insurer’s top, ranking the fourth position with a damage worth EUR 4.2 million which was caused by a fire at a textile factory in 2004.

Generali PPF Holding B.V operates in 14 countries in Central and Eastern Europe, managing assets worth EUR 14 billion and having over 10 million clients in the region according to its data.

Simona Bazavan

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