France Assesses €5 Billion in Climate-Related Damages for 2024

Insurers face mounting costs from storms, floods, and cyclones, with recent events highlighting the escalating impact of climate change.

The financial toll of climate-related events in France for 2024 reached €5 billion, according to France Assureurs, ranking it as the 9th costliest year since 1982.
Cyclone Garance in March 2025 added to the cumulative damages caused by cyclones Belal and Chido, which together exceeded €1 billion in costs, with Chido alone accounting for €500 million in Mayotte.
Storms Kirk and Leslie, along with Cévenol and Mediterranean weather episodes in October 2024, caused €785 million in damages, while floods in Nord and Pas-de-Calais between November 2023 and January 2024 cost €430 million.
Excess rainfall in 2024 led to a 12% increase in water damage claims, with payouts for such claims doubling over the past 20 years due to their growing frequency and severity.
Concerns are rising over potential building damage from clay shrinkage if a severe drought occurs in summer 2025, following the wettest and least sunny year in over two decades in metropolitan France.