According to estimates by Morningstar DBRS analysts, losses incurred by insurance companies as a result of riots in France could rise to €1.2 billion, The Financial Times (FT) reports.
The newspaper notes that costs could increase further if the riots continue. Such incidents are expected to cause hundreds of millions of euros in damage annually in the future.
According to a preliminary assessment by French Trade Minister Serge Papin, at least 3,000 commercial establishments across the country have been affected by the riots.