Estimate covers period from 23 December to 8 January

Allianz UK estimates that it will pay £18.5m in claims from the heavy flooding that hit the UK this winter.

The estimate covers the period from 23 December 2013 to 8 January 2014, during which the company received 5,600 claims.

On Monday the ABI estimated that UK insurers will collectively pay £426m in claims from the flooding in the 23 December to 8 January period, and have faced 174,000 claims.

This would give Allianz UK a 4.3% share of the total bill.

Speaking to journalists at an event yesterday evening, Allianz UK commercial general manager Simon McGinn warned that there was scope for the ABI industry-wide estimate to increase.