Swiss Re has warned that authorities are underestimating the threat heatwaves pose to human life, as extreme temperatures continue to affect public health, river transport and supply chains across Europe.
Andreas Berger, chief executive of the Zurich-based reinsurer, said the risk of heatwaves and associated fatalities had not been fully recognized. His comments came as several German states temporarily eased restrictions on Sunday and holiday truck traffic because low water levels were disrupting shipping on major rivers, including the Rhine.
Europe has recorded thousands of excess deaths during a record-breaking heatwave, with people aged 65 and older accounting for most of the fatalities. Germany alone had recorded an estimated 11,900 heat-related deaths by late July, according to the Robert Koch Institute.
The effects are no longer limited to public health. Falling river levels are also creating logistical pressure by reducing the ability of vessels to transport goods efficiently, forcing authorities to increase road capacity.
Swiss Re Says Heatwave Risks Have Been Misjudged
Berger said governments and the wider public need to better understand the dangers associated with extreme heat.
He argued that the mortality risk linked to heatwaves had been underestimated.
His comments highlight a growing challenge for governments, insurers and healthcare systems as periods of extreme heat become more severe and widespread.
Heat-related deaths can be difficult to measure in real time because extreme temperatures often worsen existing health conditions rather than being recorded as the sole cause of death.
This makes the impact less visible than damage caused by storms, floods or wildfires, even when the human toll is significant.
Europe Faces Thousands of Excess Deaths
Europe has reported thousands of excess deaths during the latest record-breaking heatwave.
Older people have been especially vulnerable, with most reported fatalities involving those aged 65 and above.
France and Spain have experienced particularly high temperatures in recent weeks.
Extreme heat places additional pressure on cardiovascular and respiratory systems and can become especially dangerous for people with existing health conditions.
The impact also increases when high nighttime temperatures prevent the body from recovering after prolonged daytime heat.
The source does not provide a continent-wide final mortality figure, but the available national estimates indicate a substantial public-health burden.
Germany Estimates 11,900 Heat-Related Deaths
Germany’s Robert Koch Institute estimated that around 11,900 heat-related deaths had occurred in the country by late July.
Most were associated with extreme temperatures during late June.
The figure demonstrates the scale of the health impact even in a country with developed healthcare infrastructure.
Heat-related mortality is particularly concentrated among elderly people, those with chronic medical conditions and people with limited access to cooling.
The estimate strengthens Berger’s argument that heatwaves should be treated as a serious mortality risk rather than simply a seasonal inconvenience.
Swiss Re Is Assessing the Financial Impact
Berger made the comments shortly after Swiss Re reported a 9% increase in net profit for the first half of 2026.
He said it was still too early to determine exactly how the rise in excess mortality would affect the reinsurer’s financial results.
Reinsurance companies provide coverage to primary insurers and can be exposed indirectly to large-scale mortality events through life, health and other insurance products.
The effect of a heatwave on a reinsurer can therefore depend on policy structures, geographic exposure and the scale of insured losses.
Swiss Re has not yet quantified any specific financial impact from the current heatwave.
Heat Is Also Disrupting River Transport
The extreme temperatures have reduced water levels on major European rivers.
Low water can limit the amount of cargo that vessels are able to carry because heavily loaded ships require greater depth.
As river levels fall, operators may have to reduce cargo loads, increase the number of journeys or switch to other forms of transportation.
These restrictions can create delays and raise logistics costs.
In Germany, the situation has become serious enough for several states to temporarily relax limits on truck traffic.
German States Loosen Sunday Truck Restrictions
North Rhine-Westphalia, Lower Saxony, Rhineland-Palatinate and Saarland eased trucking restrictions to help relieve transport bottlenecks.
Germany normally imposes restrictions on heavy truck traffic on Sundays and public holidays.
The temporary exemptions provide additional road capacity when river freight is constrained.
Markus Wolf, Rhineland-Palatinate’s state secretary for transport, said low water levels were putting pressure on supply chains and that authorities were creating additional road transport options at short notice.
The measures are designed to prevent river disruptions from creating larger problems for manufacturers, retailers and other businesses.
Rhine Water Levels Put Supply Chains Under Pressure
The Rhine is one of Europe’s most important inland shipping routes.
Companies use it to move industrial goods, raw materials, fuels and other cargo.
When water levels fall, vessels cannot always operate at full capacity.
That can increase the cost of transporting each unit of cargo and make supply chains less reliable.
Although the source does not identify specific sectors facing shortages, the decision to loosen truck restrictions indicates that authorities see a meaningful risk to logistics.
The Rhine’s importance means that disruptions can affect businesses well beyond the immediate river corridor.
Trucking Relief Could Continue Into September
The relaxed rules for Sunday and holiday truck traffic are expected to remain in place until the end of August.
Authorities said some states could extend the measures through September if necessary.
That timeline suggests officials expect low water levels to remain a potential issue beyond a few isolated days.
The duration will depend on weather conditions and whether river levels recover.
If dry conditions persist, road transport may need to carry more of the freight normally moved by inland waterways.
This could create secondary pressures such as higher fuel demand, heavier traffic and increased transportation costs.
Heatwaves Create Multiple Economic Risks
The current situation illustrates how extreme heat can affect economies through several channels at the same time.
The most direct impact is on human health and mortality.
There can also be lower worker productivity, additional healthcare demand and higher cooling needs.
Transportation systems can come under pressure when rivers become too shallow for normal shipping.
Insurers and reinsurers may face higher claims depending on the nature of the losses.
Businesses can also experience delays and higher logistics costs if they have to shift cargo from ships to trucks.
The combined effect makes heatwaves an economic as well as a public-health issue.
Older Populations Face Particular Exposure
The concentration of excess deaths among people aged 65 and older is especially important for Europe.
The continent has a large ageing population, increasing the number of people potentially vulnerable during periods of extreme heat.
Older adults may have reduced ability to regulate body temperature and are more likely to live with health conditions that can be aggravated by high temperatures.
Public-health responses may therefore need to focus on early warnings, access to cooling and outreach to vulnerable populations.
Berger’s warning suggests that the current approach may not fully reflect the scale of the mortality risk.
Insurers Face a Changing Risk Landscape
The comments from Swiss Re also underline how climate-related risks are changing the insurance industry.
Extreme weather has traditionally been associated with physical damage from storms, floods and fires.
Heatwaves can create a different type of exposure because much of the damage appears through mortality, health effects and economic disruption.
These losses may be harder to observe and model than damage to buildings or infrastructure.
For reinsurers, understanding the frequency and severity of extreme heat is becoming increasingly important when assessing long-term risk.
The source does not indicate any immediate change in Swiss Re’s pricing or underwriting policies.
Logistics Systems May Need More Flexibility
Germany’s decision to relax trucking restrictions shows how transportation networks may need to adapt when weather disrupts traditional routes.
River freight is usually efficient for moving large quantities of goods.
When waterways become unreliable, authorities must create alternatives quickly.
Road transport can provide that flexibility, but it also has capacity limits.
A prolonged shift from river to road could increase congestion and operating expenses.
The current measures are therefore a short-term response rather than a complete solution to repeated low-water events.
What Governments Should Watch
The first priority will be heat-related mortality as temperatures remain elevated.
Authorities will also monitor river levels, particularly on major commercial routes such as the Rhine.
The duration of the German trucking exemptions will provide an indication of whether logistics pressures are improving.
Insurers will be watching mortality data and potential claims to assess the financial consequences of the heatwave.
Governments may also need to review whether existing emergency plans adequately address both the health and infrastructure effects of extreme temperatures.
Conclusion
Swiss Re CEO Andreas Berger has warned that the mortality risks associated with heatwaves remain underestimated as Europe deals with thousands of excess deaths.
Germany had recorded an estimated 11,900 heat-related fatalities by late July, according to the Robert Koch Institute.
At the same time, low river levels have disrupted inland shipping and prompted several German states to temporarily relax restrictions on Sunday and holiday truck traffic.
The situation shows that extreme heat is affecting health, logistics and economic activity simultaneously.
Final Takeaway
Europe’s latest heatwave is demonstrating that extreme temperatures are not only a health emergency. Rising mortality, falling river levels and transport disruptions are creating interconnected risks that governments, insurers and businesses may need to treat as a more permanent part of climate-related planning.
