Lloyd's losses expected to approach £1bn as catastrophes bite
Lloyd’s is expected to report a near-£1bn loss in 2011 as the Japanese tsunami and Australian floods take their toll on the market.
Claims coming into Lloyd’s are expected to top £10bn which is way in excess of the £3.4bn suffered in the wake of the September 11 attacks and more than double the £4.2bn that was paid out following hurricanes Katrina and Wilma in 2005.
According to the Telegraph, despite the scale of the claims, City analysts will be comforted by the market's resilience given that it is not expected to have been forced to draw on its central fund.
Among the other major claims to hit Lloyd's last year will be
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