The earthquake and tsunami that struck Japan on March 11 should represent a cost of hundreds of millions of euros for Axa, said Sunday the CEO of French insurance group, Henri de Castries.
He said that the estimation of the exposure of Axa in Japan was difficult to make for now since we don't know yet the exact number of victims, that could exceed 20,000 dead.
"The risk we're still trying to figure (...) We believe that this should cost us a little more than a hundred million euros before taxes in terms of casualties and injuries and about a few tens of millions of euros in industrial risks, "he said.
Axa has 8,000 employees and nearly five million customers in Japan, said the CEO.
For now, the insurance company is focused "on what we can do for clients who have suffered found in support and comfort that we can give them reasons to leave. "
"This is a huge disaster, probably the greatest natural disaster ever recorded, " said Henri de Castries.
He said the total cost of the damage is much higher than the 1999 storms on European coasts and Hurricane Katrina in the United States. "The numbers which circulate for Japan is of the order of 200 to 250 billion dollars" of damage, he added.
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