NU Online News Service, Sept. 21, 11:26 a.m. EDT
Lloyd's today announced an interim loss before tax of £697 million ($1.12 billion at current exchange rate) for the 2011 first half, compared to £628 million ($980.3 million) in profit for the same period a year ago.
The loss represents the costliest first six months on record for major catastrophes for the insurance industry, and Lloyd's says 2011 already is likely to be the second most expensive year ever for insurers.
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