French event
The intensification and increased frequency of climatic hazards are putting growing pressure on insurance and reinsurance mechanisms. In 2023, weather-related claims cost €6.5 billion in France, making it the third costliest year for the sector. According to projections by the Caisse Centrale de Réassurance, the number of natural disasters could increase by between 27% and 62% by 2050, depending on the RCP scenarios, and even by between 47% and 85% if changes in insured assets are taken into account. In addition to increasing the probability of risk occurrence, the growing concentration of wealth is exacerbating the scale of potential losses, calling into question the very viability of certain insurance and reinsurance mechanisms. Faced with increasingly systemic and correlated climatic hazards, certain key insurance principles, such as mutualisation and diversification, are being put to the test, raising questions about the operating conditions of a financing tool that has historically been based on the dispersion of claims.
