UK-based insurer Ecclesiastical has taken a further knock in the form of a £16.9 million ($25.8 million) underwriting loss for last year.

Anglican Church-owned Ecclesiastical has blamed the loss on natural disaster claims incurred by its Australian and New Zealand subsidiary Ansvar.

“The Australia business contributed a loss of £11.8 million ($18 million) largely relating to the floods and storms in Queensland and Victoria, along with Cyclone Yasi, all of which occurred in January and February 2011,” the 125-year-old company reported.

“The total gross claims cost from the [New Zealand] earthquakes stretching across 2010 and 2011, which continues to evolve, is estimated at $NZ800 million ($623.7 million) at the end of 2011, with this estimated total covered by our group catastrophe reinsurance program.”

The New Zealand operation lost £5.1 million ($7.8 million) last year, and Ansvar has withdrawn from the market.

The firm reported a turnover of £498.8 million ($760.4 million), down from £506.6 million ($772.3 million) in 2010.

Group CEO Michael Tripp says the results “are solid in a turbulent financial environment and highly competitive insurance market. We’ve delivered good growth and profit in the UK while dealing with some of the worst natural disasters our overseas businesses have ever faced.”