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Member, Beacon International Group, Ltd.
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.