Lloyd's of London said its provisional estimate of the market's net loss from Hurricane Katrina is ?1.4 billion–amounting to $2.55 billion.
Lloyd's said the financial impact of the storm was consistent with the "Realistic Disaster Scenarios" it has developed to ensure the market can withstand major catastrophes. One of these models includes the market's exposure to a Gulf of Mexico windstorm.
Lloyd's said the estimated Katrina loss is comparable with the impact of the four U.S windstorms in 2004, which resulted in a net loss to the market of ?1.3 billion ($2.37 billion).
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