Flood losses and M&A to overshadow insurance earnings
LONDON (Reuters) - Concerns over the impact of flood losses and speculation over the shape of consolidation in the sector are set to dominate first-half earnings next week from some of the country's largest life and general insurers.
Aviva and Royal & SunAlliance are expected to see headline operating earnings drop almost 8 percent and 14 percent respectively, on the back of heavy claims after floods hit Britain in June and July.
The insurance industry as a whole, already hit by windstorm Kyrill in January, could face flood claims of 3.3 billion pounds, according to some estimates. Aviva has said its flood bill alone adds up to 340 million for June and July.
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