September 20, 2021

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Limburg Flood Loop for ASR: 20 to 30 million

Limburg Flood Loop for ASR: 20 to 30 million

The damage caused by last month’s floods in southern Limburg is estimated by the ASR at 20-30 million euros. The company will announce this when the half-year numbers are published.

The floods caused damage to the homes and home furnishings of many Limburgers, among others.

small rivers

Unfortunately for the ASR, but fortunately for the insured, the cover against a flood has begun secondary or regional Flood defences. They protect against water from lakes, small rivers (not the Meuse), and canals.

This resulted in an additional cost for ASR claims. 20 to 30 million are entirely caused by flooding from secondary flood defenses. In southern Limburg, among other things, the Geul River caused flooding in places like Valkenburg.

600 claims

In addition to the ASR brand, ASR also includes Ditzo, Europeesche, Ardanta and Loyalis. Only flood damage was included in the results for the second half of the year.

The ASR has so far received about 600 concrete claims for damages, about half of which have already been settled. This usually relates to minor damage. Major damages are more complex and therefore require more time, according to the company.

ASR earnings increase in the first half of the year

In the first six months of the year, the ASR paid a smaller amount in claims compensation. As a result, net profit increased from 233 million euros to 454 million euros.

Last year, net profit, in part due to Corona, fell by more than half compared to profit of 540 million euros in the first half of 2019.