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Ireland: Heavy floods likely to take huge toll on property insurers

January 8, 2014 - 6:00am

Insurance claims following the recent floods in Ireland could reach hundreds of millions for the country's leading property insurers, including RSA Insurance Group P.L.C., FBD Insurance P.L.C. and Aviva P.L.C., The Irish Independent reported.

Insurance Ireland said severe floods experienced in November 2009 cost the industry €244 million ($332.2 million).

Sources said the recent floods could prove to be more expensive.

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