France Assureurs, the federation of French insurance companies, has estimated the losses of the country’s insurance companies after the riots that followed the murder of a teenager by a policeman at hundreds of millions.
The Confederation of French Insurance Companies said the riots cost insurers nearly 650 million euros.
According to a statement released by the federation, more than half of this amount (55%) is for property owned by the business sector, while the rest is for property owned by local authorities.
Riots erupted in several French cities after a 17-year-old boy was shot and killed by French officers last Tuesday.
The French Ministry of the Interior indicated that the demonstrators set fire to more than 12,000 cars and about 500 city halls, the French Ministry of Economy also reported the looting of more than a thousand retail outlets, about 370 banks, 200 supermarkets and 436 tobacco shops.
Source: Prime
