Floods will cut forecast earnings per share to 47p, says Panmure Gordon’s Barrie Cornes

Flood sign

The December flooding in the UK will cost insurer Aviva £100m, according to Panmure Gordon analyst Barrie Cornes.

Cornes said in a research note that he expects the flood claims to lower his forecast 2015 operating earnings per share for the group to 47p a share from 49.2p a share.

Aviva will report its 2015 results on Thursday.