February 13, 2018 / 3:56 PM / a year ago

Hurricane Irma costs for insurers to reach 1.8 billion euros: French lobby

FILE PHOTO: A dog stands in a street affected by Hurricane Irma in Cole Bay, Sint Maarten (Saint Martin) island, Netherlands, September 16, 2017. REUTERS/Andres Martinez Casares

PARIS (Reuters) - Hurricane Irma, which battered the Caribbean islands of Saint Martin and Saint Barthelemy last September, could cost insurers 1.83 billion euros ($2.26 billion), the French insurance lobby FFA said on Tuesday.

FFA had previously estimated the costs at 830 million euros.

“To date, insurers have paid nearly 500 million euros to repair the damage to property of individuals and businesses by hurricane Irma,” the lobby said in a statement.

“More than 62 percent of the insured have been compensated”.

($1 = 0.8093 euros)

Reporting by Dominique Rodriguez and Maya Nikolaeva; Editing by Adrian Croft

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