Prize warning - After heavy rains: Wuestampfe and Württembergische cut Prognosis
After the heavy floods in Baden-Wuertenberg in early June, financial conglomerate Wüstenrot & Württembergische (W&W) revised its forecast. For the entire year 2024, the company now expects a profit significantly below the previous year's value of 140.5 million Euro, as communicated by the company in Kornwestheim (Ludwigsburg district). The core business area for insurance includes the Southwest. Heavy rain caused millions in damages in the Rems-Murr-District and partially in Oberschwaben. The financial conglomerate had to accept a significant profit decline already in the first quarter. The consolidated surplus was 51.1 million Euro, roughly a fifth less than the previous year.
- Given the adverse weather conditions, particularly the heavy floods in the Rems-Murr-District and Oberschwaben, the Desert Building Savings Bank, as part of the Wüstenrot & Württembergische (W&W) group, may face potential insurance claims.
- In light of the revised financial prognosis, W&W might consider exploring alternative strategies to mitigate potential adverse effects, such as seeking insurance coverage for unforeseen events like floods.
- Despite the challenging financial situation in Baden-Württemberg, financial institutions like the Desert Building Savings Bank in Kornwestheim should continue to remind their customers of the importance of having adequate insurance coverage to protect against such adverse weather events.
- As W&W faces a significant profit decline, it might be wise for individuals in Baden-Württemberg to review their insurance policies and consider securing prize warnings, which could help offset potential losses during adverse weather conditions.
