BaFin and Munich Re executive symposium in Frankfurt reviewing Elementar Re hydrological modelsAI Visualization
Germany's financial supervisor BaFin alongside the GDV approved the three-tiered Elementar Re nat-cat framework: €4B primary retention, international reinsurance layer, and sovereign backstop above €10B, backed by Munich Re's 300% Solvency II ratio.
Original source
Official GDV position statement and FAQ regarding catastrophe insurance framework
Visit original source: GDV Germany (Gesamtverband der Deutschen Versicherungswirtschaft)Germany / BaFin · Global & AI
German financial supervisory authority BaFin and the German Insurance Association (GDV) unveiled the finalized architecture of the national natural hazard protection scheme (Elementar Re).
Three-Tier Risk Transfer Architecture
- Tier 1 (Direct Retentions): Primary property insurers maintain dedicated catastrophe reserves absorbing baseline losses up to €2 billion.
- Tier 2 (Commercial Reinsurance): A commercial reinsurance consortium led by Munich Re and Hannover Re absorbs excess layers between €2 billion and €10 billion.
- Tier 3 (Federal Stop-Loss Backstop): The German Federal Government provides sovereign lender-of-last-resort guarantees for mega-catastrophes exceeding €10 billion.
- Solvency II Resilience: BaFin confirmed that participating reinsurance carriers maintain capital solvency ratios well above statutory thresholds even under 1-in-250 year flood events.
Actuarial Takeaway: The German model establishes a benchmark institutional compromise balancing private market underwriting discipline with sovereign backstop stabilization.
VIP Quotes & Public Reactions
Public statements by leaders, regulators, scientists and industry figures — on social networks, at conferences and in official releases
Jörg Asmussen
CEO / Managing Director of German Insurance Association (GDV)
Официальное заявление2026-10-04
“The government addressing catastrophe protection is an important signal. But no mandatory decree automatically reduces damages or lowers premiums. We need a holistic triad of prevention, insurance, and risk-sharing with the state.”
Anja Käfer-Rohrbach
Deputy CEO of the German Insurance Association (GDV)
Официальное заявление2026-10-05
“Insurance coverage is undoubtedly a central pillar, but alone it is not enough. We must address how coverage remains affordable and viable in high-risk zones under advancing climate change.”
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