UK flood to cost billions

Jul. 24 - The UK flood bill is expected to exceed 3 billion pounds, a hit for insurance companies, but not enough to affect their ratings.

In the latest financial estimate of the damage, Fitch Ratings says the total cost to insurers from the UK floods will top 3 billion pounds.

While that is likely to affect profits and lead to an increase in premiums, it's not expected to lead to a downgrade in insurance company ratings.

Michael Tetlow reports for Reuters.

FEATURED SPEAKER:
David Stephenson, Fitch Ratings Associate Director