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22 May 2012

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Lloyd’s estimates $1.4bn Chile loss; confirms heavy Deepwater exposures

Richard Burger 26 May 2010

Lloyd's is facing a $1.4bn pre-tax net loss relating to the Chile earthquake, the Society confirmed today (26 May).

The announcement was also followed by an initial loss estimate for the Deepwater Horizon explosion in the Gulf of Mexico (GoM) of between $300mn and $600mn.

The Society explained that the loss estimates were based on analysis of syndicates' market share, together with modelling techniques and a review of major contracts.

Lloyd's is a leading energy writer and would be expected...

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