The flood disaster as a result of the storm “Bernd” is the largest loss event in the 125-year history of LVM Versicherung in Münster. After the devastating floods in July 2021, those affected reported more than 9,400 damage reports to LVM in property and car insurance at a total cost of around 290 million euros. The largest single loss reported was 15 million euros.
Good financial year
Despite the major damage caused by the flood, LVM boss Dr. Matthias Kleuker is extremely satisfied with the company’s business figures. In the 125th year of its existence, the insurer from Münster exceeded the premium income mark of 4 billion euros. Overall, LVM Versicherung closes 2021 with a consolidated net profit of around 190 million euros.
Lower premiums for “particularly sustainable agriculture”?
In addition to good business figures, LVM boss Kleuker is also aiming for a sustainable transformation of the insurance group. For LVM, sustainability means taking long-term and holistic responsibility for people and the environment, according to Kleuker. At the end of 2021, the LVM therefore presented a “Sustainability Strategy 2025”. This includes, among other things, a sustainable capital investment.
In the long term, however, the insured themselves could also be involved. “We can imagine premium incentives for particularly sustainable agriculture, for example,” says Kleuker. Conversely, however, this could also mean that those who do not meet certain criteria must expect higher premiums.
Holzenkamp Chairman of the Supervisory Board
The General Assembly elected the President of the German Raiffeisen Association, Franz-Josef Holzenkamp from Emstek, as the new Chairman of the Supervisory Board of LVM aG Holzenkamp will succeed Eckhard Uhlenberg.
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