Insurer maintains pay-out will not affect full year guidance
Royal & SunAlliance (R&SA) has announced an estimate of £55m, net of reinsurance recoveries, for claims arising from the recent flood event in the north of England.
In a statement the group said the financial impact of these floods would be included in the group’s first half results, but would not affect its full year guidance.
The insurer continued to expect a combined operating ratio of better than 95% for 2007.
A spokesman said:"Royal & SunAlliance is continuing to work closely with customers and local councils to provide immediate assistance and facilitate rapid claims processing.
"Loss adjusters were among the first on the ground. Operating out of Royal & SunAlliance emergency response centres, the team is coordinating customer advice, fast-tracking emergency payments and accommodation, actioning motor claims, and has ensured that all known affected personal and commercial customers were contacted within two days."
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