ABI says floods were the worst since 2007
Insurers are set to pay up to £500m flood damage to customers, according to the ABI.
The floods are the worst since 2007. RSA has already taken a £50m hit.
Nick Starling, ABI’s director of general insurance, said: “The widespread floods of this summer highlight how vital flood insurance is. During June alone insurers helped 68,000 customers.”
Barrie Cornes, analyst at Panmure Gordon, said the cost to RSA was far higher than the £8m and £15m he pencilled in, and blamed losses in commercial insurance as well as motor. He cut his annual earnings per share forecast by 14% to 11.98p.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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