The material damage caused by Hurricane Irma in the French islands of the Caribbean Sea will reach a cost of about 200 million euros, Bertrand Labilloy, president of the Central Insurance Office, said this Friday.

The specialist noted that losses could even exceed that figure, taking into account the widespread destruction left by the cyclone in Saint-Barthélemy and St. Martin.

Regarding compensation, Labilloy explained that the victims of the hurricane could receive a repair within two or three months, in the context of an accelerated procedure following the exceptional situation.

The French government will formally declare the state of Natural disasters this Friday, and an inter-ministerial meeting presided over by Prime Minister Edouard Philippe is held to supervise the progress of recovery actions.