STUTTGART (dpa-AFX) - The severe storms at the end of May and beginning of June cost the savings bank insurance company (SV) in Baden-Württemberg a lot of money. According to a spokesperson in Stuttgart, the company is expecting total losses of 130 to 200 million euros. In addition, up to 6,000 claims are expected. Storms and heavy rain had led to flooding in many streams and rivers. Heavily affected regions in the insurer's business area were the Lake Constance region, Ravensburg, Weingarten, Meckenbeuren, the Alb-Donau district, Ulm, the Goppingen district, Schorndorf, the Rems-Murr district, Ludwigsburg, the Hohenlohe region, Heilbronn and Lauffen am Neckar.

Sparkassenversicherung is the industry leader in the south-west for residential building insurance against natural hazards. The insurance area also includes Hesse, Thuringia and parts of Rhineland-Palatinate. Elementary insurance was mandatory in Baden-Württemberg until July 1, 1994.

Just a few days ago, the financial group Wüstenrot & Württembergische (W&W) cut its forecast due to the damage caused by the storms. The company in Kornwestheim (Ludwigsburg district) announced that it now expects profits for the full year 2024 to be significantly below the previous year's figure of 140.5 million euros. The core area for insurance companies is the southwest./ols/DP/he