Lloyd’s joins rate rise chorus after $3.8bn Q1 losses
Lloyd's of London will pay a net $3.8bn in claims from the three major natural catastrophe losses in Q1.
The London market operator today (13 May) announced loss estimates of $1.95bn for the Japanese earthquake, $1.2bn for the second New Zealand earthquake and $650mn for the January floods in Australia.
Ignoring inflation this makes the quarterly impact of the cats larger than the headline nominal claims cost from the terrorist attack on the World Trade Center, which cost Lloyd's $3bn...
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