Zurich UK GI profit falls 37% on flood losses

Zurich has seen its UK business operating profit fall by more than a third off the back of flooding over the first three months of the year.

The insurer reported a profit of £22m, down by £13m from an equivalent 2013 figure of £35m for the first quarter.

Similarly, Zurich's UK combined operating ratio worsened from 96.6% in 2013 to 99.1%

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