Tsunami claims to cost French insurer AXA dearly

7th January 2005, Comments 0 comments

PARIS, Jan 6 (AFP) - French insurer AXA expects claims arising out of the tsunami which hit large parts of southern Asia to cost the group "tens of millions of euros", its chief executive said Thursday.

PARIS, Jan 6 (AFP) - French insurer AXA expects claims arising out of the tsunami which hit large parts of southern Asia to cost the group "tens of millions of euros", its chief executive said Thursday.

The December 26 disaster was likely to cost insurers a total of EUR 3.5-7.5 billion (USD 4.6-9.9 billion dollars), Henri de Castries said in an interview to appear Friday in the French daily La Croix.

He noted that most of the tsunami victims lacked insurance.

AXA last week said its exposure in the region was "limited" and largely through Life activities begun only within the last two to three years.

© AFP

Subject: French News

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