French flood claim estimates reach $883 million

French state-backed reinsurer la Caisse Centrale de Reassurance S.A. said Wednesday that severe flooding in the south east of France in early October would result in claims of between €500 million and €650 million ($679.5 million-$883.4 million).

At least 19 people died in the flash floods that affected the Alpes-Maritimes and Var departments between Oct. 2 and 4.

Paris-based CCR's loss estimate followed that of the Federation Francaise des Societes d'Assurances, the French insurance association, which said Tuesday it expected about 60,000 claims and losses of between €500 million and €650 million ($679.5 million-$883.4 million) from the floods.