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UK flood losses top $600 million after February storms

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Storms that swept through the UK in February have caused insurance property losses of £297 million ($606 million), Swiss-based catastrophe data firm Perils says.

Flooding was mainly associated with named storms Ciara, Dennis and Jorge and caused the greatest damage in northern England and Wales. Northern Ireland and Scotland were also affected.

Perils says an estimated 4800 properties were damaged, while many other locations were successfully protected by flood defences.

The UK insurance industry suffered total losses of about £650 million ($1.3 billion) from flood and wind-related events during the past winter, according to Perils.

The February 9-29 storms have caused the largest UK flood losses since December 2015, when inundations cost the industry £1.1 billion ($2.2 billion).

An updated estimate for the storms will be released by May 29.