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Xynthia cost at least $ 1.2 billion to insurers

This is a first official estimate. Le Figaro had argued Wednesday the number of one billion euros in damage, according to the French Federation of Insurance Companies (FFSA), the Xynthia storm that swept through France last Sunday is expected to cost at least $ 1.2 billion of EUR insurers. Because this encryption is based on insurance claims 500,000 victims and will probably be revised upwards. Firstly because other people should still report damage in the coming days. Xynthia is indeed the most violent storm in the 1999, stronger than that Klaus had 740,000 victims last year in the Southwest. Secondly, many houses are still flooded making it difficult to make a definitive estimate of the damage.

The assessment takes into account the damage caused by wind and partly by water.These latter are partly supported by governments that have recognized the state of natural disaster one hour payday loan .

To find the total cost of damage from the storm, it would also add all those suffered by all the infrastructure (roads, bridges, dams). Borne by state and local governments and not covered by members of the FFSA and the Grouping of mutual insurance companies, they have not been integrated to 1.2 billion euros. The final cost of Klaus – 1.68 billion euros – was nearly three times the initial estimate.According to the FFSA, it will take one to two months in order to establish the final amount of the cost of the storm for its members.

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Concerns about the post-bonus case

Placed on oxygen last year, European manufacturers have yet to most tipped in red. And 2010 looks even more complicated for them they will have to relearn how to breathe alone. Due to the cessation or reduction of premiums for scrap, which had supported at arm's key markets of the Old Continent, PSA Peugeot Citroën and anticipating a decline in European markets by 9% this year, a decline in Renault Ford 10% and a dip of 15%.

Good registrations in January and February (17.8% in France last month) "reflect only the orders taken in December, said Tuesday at the Geneva Motor Show, Carlos Ghosn CEO of Renault. The latter includes a decline in sales from the spring.

"We still expect a strong headwind in Germany and Europe in general," said his side Martin Winterkorn, head of Volkswagen.The German market, after taking off in 2009 with the premium snack, could lose more than one million cars this year. "Despite some positive economic indicators in some countries, consumer confidence, undermined by rising unemployment, is not sufficient to engage in buying a car, for its part says John Fleming, the owner Ford of Europe, which sees no strong recovery before 2011.

So, the price war is raging. "There is an increase in rebates charged, they are difficult market conditions, said John Fleming. We must find a balance between the gains in market share and promotional expenses realistic creditreport