Lloyd’s said expectations earlier this year that it would end 2005 on a comfortably profitable note have been diminished by the three catastrophic hurricanes that hit the United States.

The Lloyd’s market reported today that it estimates the total loss from Hurricanes Katrina, Rita and Wilma could amount to ?2.9 billion ($5 billion U.S.). It now estimates net loss for Katrina at ?1.9 billion ($3.42 billion); Rita net loss at ?535 million ($947 million); and Wilma at ?483 million ($855 million).

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.