U.K. floods soak Ageas' earnings

The December 2015 floods in the United Kingdom have hit Belgium-based insurer Ageas S.A.'s results in the fourth quarter of 2015, reported Reuters.

Ageas posted worse-than-expected results in spite of a strong performance in its domestic market. Ageas's net profit from insurance activities decreased 10% to €142.1 million ($158 million) in the quarter. Ageas recorded a loss in the United Kingdom due to the floods and higher claims at its motor insurance unit.

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