Insurers still in profit after flood claims
28/02/2008
Whilst is has been a difficult year for insurance companies following the flooding, Norwich Union stays afloat
The largest insurance broker in the UK, Aviva was happy to post a rise in profits today.
It was a difficult year for the company in many areas. The record breaking flood damage claims following the worst flooding in the UK for over sixty years made the year a stormy one for many insurers.The company, which trades under the Norwich Union brand paid out to over 50,000 claimants following the flooding.
However the company, although underwriting a large part of the £475m clieaning bill for the floods has managed to stay afloat in the matrket due to its activities in other market sectors such as life insurance and savings.
Authorised and regulated by the Financial Services Authority
