Friday June 5, 2020

Losses hit Lloyds after record year for catastrophe

Specialist insurer Lloyd's has announced an interim loss before tax of £697 million (€799 million) for the six-month period ending 30 June 2011.

21st September, 2011

Specialist insurer Lloyd's has announced an interim loss before tax of £697 million (€799 million) for the six-month period ending 30 June 2011.

The result follows the costliest first six months on record for major catastrophes for the insurance industry, with 2011 already likely to be the second most expensive year ever for insurers.

The loss compares to a profit of £628 million in the six months to June 2010. Lloyd's conservative investment mix has resulted in a...

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