Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Business

Best’s Briefing: U.K. Insurers to Withstand Flood Losses; Long-Term Safeguards Are Sought


Print article Print article
© Business Wire 2014
2014-03-24 09:03:01 -

As the U.K. House of Lords considers legislation that would establish a national flood reinsurance program, and the country’s property insurers are handling a fresh onslaught of claims from the most recent flooding catastrophe, a new briefing from A.M. Best states that it does not expect an increase in rating downgrades.

The Best’s Briefing entitled, “U.K. Insurers to Withstand Flood Losses; Long-Term Safeguards Are Sought,” states that while current estimates set the insured losses at between GBP 750 million and GBP 1.2 billion, A.M. Best expects insurers to withstand these losses, with little effect on ratings, given the overall soundness of their business and capital strength.

Stefan Holzberger, managing director, analytics and author of the briefing said, “Despite the marginal returns expected

for 2013, A.M.

Best does not expect an increase in rating downgrades for two reasons.

Many U.K. insurers have international business that performed well in 2013, given generally adequate rates and relatively few major catastrophes; and second, insurers have strengthened their balance sheets over the past few years and currently maintain sound capital buffers that exceed requirements for their current rating levels.”


To access the full, complimentary copy of this briefing, please visit www.ambest.com/press/032402ukfloodbriefing.pdf : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .


A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

" title="http://cts.businesswire.com/ct/CT?id=bwnews&sty=20140324005360r1&sid=16929&distro=ftp\"/>" target="_blank" rel="nofollow">cts.businesswire.com/ct/CT?id=bwnews&sty=20140324005360r1&am ..

A.M. Best CompanyStefan Holzberger, +(44) 20 7397 0288Managing

Director, Analytics stefan.holzberger@ambest.com : mailto:stefan.holzberger@ambest.com orRachelle

Morrow, +(1) 908-439-2200, ext. 5378Senior Manager, Public
Relations rachelle.morrow@ambest.com : mailto:rachelle.morrow@ambest.com orJim

Peavy, +(1) 908-439-2200, ext. 5644Assistant Vice
President, Public Relations james.peavy@ambest.com : mailto:james.peavy@ambest.com


Author:
Hossam Abdel-Kader
e-mail
Web: www.pr-inside.com/
Phone: +43 1 9582319

Disclaimer: (c) 2014 Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com