June 3, 2016 / 3:21 PM / 3 years ago

French flooding could cost insurers 600 million euros or more: AFA

Rescue workers from the French "Securite Civile" on small boats attend an evacuation operation for residents of the edge of the Seine river in Juvisy-sur-Orge, near Paris, France, June 3, 2016 after days of almost non-stop rain caused flooding in the country. REUTERS/Christian Hartmann

PARIS (Reuters) - The heavy flooding of the past week could cost French insurance companies 600 million euros ($680.5 million) or more, French insurance industry association AFA said on Friday.

AFA president Bernard Spitz that as the rains are still continuing it is too soon to make a first assessment of potential damages, but said the cost could exceed that of flood damage last year.

“It is probable that the cost will not be lower than the cost of the October 2015 floods, which caused damages of about 600 million euros,” Spitz said in a statement.

Reporting by Geert De Clercq; Editing by Leigh Thomas

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