Southern France, which usually enjoys a warm, dry Mediterranean climate, has suffered successive waves of rain storms in recent months, repeatedly causing deadly floods.

In the most recent episode, heavy rains and flooding triggered 50,000 damage claims with the cost expected to reach as much as 220 million euros, the AFA said in a statement.

In addition to the rains in southern France, insurers have also faced heavy claims earlier in the year from several hailstorms, causing losses in particular in the prime Bordeaux wine-producing region.

At 1.8 billion euros in the first 11 months of the year, damage claims from storms are running over the annual average of 1.5 billion euros seen in the past.

(Reporting by Leigh Thomas; Editing by Andrew Callus)

Stocks treated in this article : AXA, BNP PARIBAS, CNP ASSURANCES, CREDIT AGRICOLE, Allianz SE