Lloyd’s hurricane losses top $5bn - Chances of 2005 profit slim, as 2006 capacity up 7 percent to £14.7bn
Losses to the Lloyd’s market from the trio of devastating hurricanes this year will top $5bn, according to latest estimates revealed last Wednesday (30 November).
The Society also admitted that the likelihood of turning a 2005 profit was now “small” and announced 2006 capacity would increase to £14.7bn ($26.5bn).
In its statement to the London Stock Exchange, Lloyd’s said the net loss estimate for Katrina had risen to $3.42bn (£1.9bn) from the $2.55bn (£1.4bn) provisional figure provided on 14 September...
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