French natural disaster costs surge to highest level in 23 years

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The president of the French insurance companies’ federation said natural catastrophes had become more frequent and intense, resulting in losses of 10 billion euros in 2022.

“It’s been a terrible year,” said Florence Lastman, president of the French Insurance Association. europe 1 radiociting the hailstorms, floods and droughts that hit the country last year.

Natural disasters cost the industry an average of €3.5 billion annually between 2017 and 2021.

The 2022 numbers are the highest since the storm that hit France in 1999.

Lastman pointed out that “increasing intensity of extreme climate events” and “increasing their frequency” are direct consequences of global warming.

In 2022, the number of hailstorms, storms, floods and droughts doubled in France and spread across the country.

Areas that would not normally be affected are affected, such as the mythical forests of Brittany. Brocéliandewas hit by a fire this summer.

And the storm is getting stronger.

“Hail is now the size of a tennis ball instead of a ping-pong ball,” says Lustman.

loss increases

Insurance associations are less optimistic about the next few years, especially as the effects of climate change become increasingly visible.

In a study released Thursday, French Guarantor Climate change ranks as the second major risk identified by experts over the next five years.

cyber attack is its biggest risk, with deteriorating economic conditions ranking third.

The insurance federation said claims from natural catastrophes will exceed €140 billion over the next 30 years, double the amount of the previous 30 years.

Reinsurance giant Swiss Re said in December that natural and man-made catastrophes were to blame €246 billion in economic losses worldwide 2022.

(with wire) French natural disaster costs surge to highest level in 23 years

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