Assessment of damage caused by riots in France

According to an assessment by the analytical company Morningstar DBRS, the losses of insurance companies as a result of the riots that took place in France last weekend may reach 1.2 billion euros. Insurance brokers estimate that the losses may exceed 1 billion euros. At the same time, according to mtavari-fb, the losses may exceed 1.2 billion euros. Imedi+2

According to the preliminary assessment of French Minister of Commerce Serge Papin, at least 3,000 businesses across the country have been affected. According to information from mtavari-fb, more than 3,000 shops and business facilities were damaged. Luxury brand stores became the target of attacks, including Louis Vuitton and Kenzo facilities. Imedi+2

Analysts explain that the damage caused by the current riots exceeds the losses caused by the riots that took place in July 2023. According to imedinews, the losses at that time amounted to more than 700 million euros, while according to information from 1tv, insurance companies paid out 798 million euros in compensation. Imedi+1

Thomas Buberl, CEO of the insurance company AXA, called on the government not to place the financial burden of the riots solely on insurance companies and to properly fulfill its obligation to ensure security. 1TV