Market conditions for U.K. non-life insurers were difficult in 2019 as they continued to face strong competition and claims inflation, according to a report published by AM Best. Companies have had to contend with changes in the discount rate — …
The U.K. economy could face hits of more than 12 billion pounds ($15.4 billion) a year by 2050 from coastal damages alone if no action is taken to combat climate change, according to the WWF. The calculations — made on …
Boris Johnson deployed extra troops to help flood-hit parts of Northern England as he tried to ensure that a natural disaster didn’t damage his election chances. The prime minister convened a meeting of the government’s “Cobra” emergency committee on Tuesday …
Britain will get 60 million euros (51.3 million pounds) from the European Union to repair damage caused by the floods last year, a lawmaker said on Tuesday. Britain had asked for EU support to rebuild infrastructure damaged by heavy rains …
PERILS AG has today disclosed its fourth and final loss estimate for the floods in the UK which occurred Dec. 4-24, 2015 and were linked to storm Desmond and other low pressure systems. The revised estimate of the insured property …
The insured property loss estimate for floods that hit the UK from Dec. 4 to 24, 2015, following Storm Desmond and other low pressure systems, has been revised to £597 million ($861.4 million), according to PERILS, the independent Zurich-based organization …
Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates. Three winter storms …
Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS, the independent Zurich-based organization that provides …
Fitch Ratings has upgraded Ageas SA/NV’s long term Issuer Default Rating (IDR) to ‘A’ from ‘A-‘. The outlook on the IDR is stable. Ageas SA/NV is the ultimate holding company of the Ageas group (Ageas). Fitch has also affirmed Ageas …
Britain’s finance minister George Osborne said on Wednesday he would raise the tax on motor and home insurance premiums by 0.5 percentage points to 10 percent to fund flood defenses, boosting insurance shares as the rise was smaller than anticipated. …
