By: Agence France-Presse
Hurricane Irma has wreaked an estimated 1.2 billion euros ($1.four billion) value of damage within the Caribbean territories of St Martin and St Barts, French state-owned reinsurer CCR stated Saturday.
“This amount covers damages to homes, vehicles and businesses” insured for pure disasters, CCR stated in a press release.
The catastrophe is “one of the worst experienced by France in 35 years,” it stated.
CCR chief Bertrand Labilloy stated Friday that the reinsurer had “sufficient reserves to cover the disaster whatever the cost.”
The general damage throughout the Caribbean has been estimated at greater than $10 billion.
Sint Maarten, the Dutch a part of St Martin, has suffered $2.5 billion in damage, in accordance to the Center for Disaster Management and Risk Reduction Technology (CEDIM) in Germany.
Irma is projected to hit Florida late Saturday, and in accordance to knowledge modelling agency Enki Research the overall invoice for loss and damage may hit $120 billion as soon as the United States is included.(AFP)