British insurer RSA weather claim bill to hit €130m
British insurer RSA today warned its bill for UK weather-related claims was expected to be £110m (€130m) more than normal after the coldest December for 100 years.
Last month’s snow and freezing conditions sent claims for snow and burst pipes soaring, with around 8,000 claims at an average cost of £6,700 (€7,900) since November.
The UK hit contributed to an overall weather impact that was £142m (€168m) more than normal for November and December as the More Than owner also counted the cost of a winter freeze in areas such as Scandinavia and Ireland.
Extreme events earlier in the year, such as the Chilean earthquake last February, will see the total annual adverse weather cost for 2010 at around £255m (€302m) more than normal, or £175m (€207m) worse than 2009.
RSA said this was expected to leave full year earnings lower than market forecasts – at around £600m (€712m) to £630m (€747m) against predictions for at least £700m (€830m).
