Natural disaster costs hit 23-year high in France

AFP - [email protected] • 26 Jan, 2023 Updated Thu 26 Jan 2023 12:58 CEST
image alt text
A bridge over the dried out Loire River bed at Loireauxence, western France on September 20, 2022. (Photo by Damien MEYER / AFP)

Natural disasters cost French insurers €10 billion last year, a two-decade high as such events become more frequent and intense, the head of the sector's federation said on Thursday.


"It was an annus horribilis," France Assureurs president Florence Lustman told Europe 1 radio, citing the hailstorms, floods and droughts that hit the country last year.

Natural disasters cost the industry €3.5 billion on average per year between 2017-2021.


The 2022 figure is the highest since storms pummelled France in 1999.

The insurance federation said the bill from natural disasters will exceed €140 billion over the next 30 years, double the amount for the previous three decades.

Reinsurance giant Swiss Re said in December that natural and man-made catastrophes caused $268 billion of economic losses worldwide in 2022.



AFP 2023/01/26 12:58

Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also