Insured losses from flooding this year in Central Europe is expected to amount to EURO EUR1.25 billion ($1.48 billion under current exchange rates), according to a report by Guy Carpenter & Company Ltd.

"European Flood Report 2005--Central and Eastern Europe," is a detailed summary and review of 2005 Central and Eastern European flood activity. The report examines resultant damage and insured losses across Switzerland, Germany, Austria, Romania and Bulgaria. It also looks at unrelated spring and summer flooding in Romania and Bulgaria.

According to Guy Carpenter--a member company of Marsh & McLennan Companies in New York--various reinsurers expect to pay out between EUR15 million ($17.8 million) and EUR65 million ($77 million) in insured losses across flood-affected areas in Central and Eastern Europe, with Switzerland suffering the greatest losses.

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