Zurich-based catastrophe data specialist Perils has delivered an initial insured loss estimate of €1.56 billion ($2.54 billion) for last month’s floods in southern Germany.

The floods particularly affected Bavaria and Baden-Wurttemberg, which had more than 150mm of rainfall between May 30 and June 6.

Perils says the rainfall overwhelmed already well-saturated areas after Germany recorded its third-wettest May, causing many streams and rivers to overflow.

Product manager Luzi Hitz says the floods add to concerns about the impacts of climate change.

“It is striking that the three wettest Mays on record for Germany have occurred during the last 18 years,” he said.

“At the same time, the country’s average annual temperature has risen by 1.6 degrees since pre-industrial times ... it is plausible that the warming climate will result in more precipitation in the form of prolonged periods of heavy rainfall, potentially leading to further floods similar to those experienced in southern Germany in early June.”

Perils is due to release its subsequent estimate on September 6, three months on from the floods.