THE Lloyd's of London insurance market said on Tuesday that there had been no change to its expected financial performance this year thanks to a lack of major claims during the first quarter.
Last year, the 324-year-old market swung to a £516 million loss, its second worst ever, after absorbing record claims from a spate of natural disasters including Japan’s Tohoku earthquake and Thailand’s worst floods in half a century.
The insurance industry as a whole took a $116 billion (£72bn) hit from natural catastrophes, making it the sector’s second worst natural disaster year on record, according to reinsurer Swiss Re.
Lloyd’s said the excess of its central assets over solvency... read more