Lloyd's reported a 2005 pretax loss of $181 million compared toa profit of $1.5 billion for the previous year.
Lloyd's Chairman Lord Peter Levene said the market posted $5.8billion in net claims for its costliest year ever, exceeding thelosses stemming from the Sept. 11, 2001 World Trade Centerattacks.
"For Lloyd's to emerge with such a small loss represents anexcellent performance by the market," Mr. Levene said. "Thatoutcome would have been unthinkable just a few years ago, which isthe true measure of the progress Lloyd's has made."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
