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Zurich flags $100M loss after UK floods

Zurich Insurance on Wednesday flagged an estimated $100 million fourth-quarter business operating loss for its flagship general insurance (GI) business, largely due to claims from storms and floods in Britain and Ireland.

"While the 2015 results for general insurance are disappointing, operating performance for both farmers and global life should be in line with expectations, and the group's capital position remains very strong across all key metrics," Zurich said in a statement.


Gianluca Colla | Bloomberg | Getty Images

Zurich chief Martin Senn suddenly quit last month after coming under pressure following a botched takeover bid and a stuttering performance in GI. Zurich has yet to appoint his successor.

The Swiss firm is due to post full-year results on Feb. 11.

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