ZFS says U.K. flood claims less than $400 million

ZURICH, Switzerland— Zurich Financial Services Group expects claims from June storms and flooding in the United Kingdom to amount to less than $400 million.

The Zurich, Switzerland-based insurer said the pre-tax claims estimate is net of reinsurance. The final amount could change as remediation efforts continue on damaged properties, ZFS said in a statement.

Floods that caused widespread damage in July in southern England will be another significant loss for ZFS, the insurer said. Claims costs for that flooding have not been estimated.