FT: Insurers’ losses from the unrest that swept through France on October 17–18 could reach 1.2 billion euros

The publication cites analysts from Morningstar DBRS. Insurance brokers surveyed by the newspaper also suggest that losses will exceed 1 billion euros, and they warn that if the unrest flares up again, the total damage will increase.

According to preliminary figures from French Minister of Trade Serge Papin, at least 3,000 businesses across the country have been affected, including Louis Vuitton and Kenzo boutiques.

Morningstar analyst Marcos Alvarez compared the situation to natural disasters:

"The unrest in France is starting to resemble natural catastrophes," he told the FT, noting that insurers now anticipate events causing hundreds of millions of euros in damages each year.

Current losses have already surpassed the damage from the 2023 riots, which lasted for more than a week. At that time, according to the industry association France Assureurs, insurers paid out 798 million euros.

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Source of information: News Agency e.g. FT