Non-life insurance, historical level of compensation in 2013

According to the German insurance federation (GDV), accident and damage compensation have reached the record level of 50 billion EUR (68.8 billion USD) in 2013, an increase of 12% compared to 2012, the highest recorded in 25 years.

GDV ascribes this substantial increase to an "exceptionally high number of natural disasters" that took place in 2013, which cost 7 billion EUR (9.6 billion USD) to german insurers.