COMMENTARY
Briefing: Flood Losses to Hit U.K. Insurers’ 2015 Earnings

Flooding in the final month of the year will put pressure on the 2015 earnings of U.K. property insurers. Initial estimates of combined insured losses from Storm Desmond, which hit the U.K. on December 5, 2015, and Storm Eva, which followed on December 26, range from GBP 900 million to GBP 1.5 billion. There will be further losses from Storm Frank, which brought heavy rainfall to already saturated areas of the U.K. on December 29. Economic losses are likely to be much higher.