A major international insurer said its losses from flooding in the United Kingdom would not exceed $400 million, and a rating agency said the event would not affect its rating of the country's insurers.
Yesterday, Zurich Financial Services Group said it estimated losses from the United Kingdom floods in June would not exceed $400 million net of reinsurance. The carrier said its estimate covers flooding from June 14 to 25.
Charges from the event will be recorded in the Zurich, Switzerland-based insurer's first-half results.
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