Commenting on today’s announcement on the future of flood insurance, Paul Evans AXA UK and Ireland Group Chief Executive said:

27 June 2013

Posted in Financial results

"Whilst there is much still to agree between Government and insurers, the priority has been - and must remain - that those people whose property is at risk of flooding are able to buy affordable insurance, and today's agreement is a first step toward that objective. It is encouraging to see that the government recognises that Flood Re is the best way forward to create a properly functioning market for flood insurance and we look forward to continuing a constructive dialogue with Government so that the principles agreed today can come to fruition.

"The planned investment in flood defense funding is welcome and we hope that Government will follow this with measures which prevent further housing development on existing flood plains, as such housing will not be covered by the principles agreed today."