Hurricanes Drive Down Profits At Lloyd'sRating agencies still pleased, as results fall in upper endof expectations

Lloyd's of London saw its annual profit fall 28 percent in 2004,as the market felt the effects of catastrophe claims from U.S.hurricanes and an insurance arbitration settlement with reinsurersinvolving its Central Fund.

However, rating agencies appeared pleased with Lloyd'sannouncement, saying that profits were still better than, or withinthe upper range of, anticipated results.

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