Lloyd's says record catastrophe losses led to a loss of morethan $800 million for 2011 as the specialty-insurance marketexperienced the largest catastrophe-claims year in its history.
In a statement, London-basedLloyd's says it incurred total net claims of $20.6 billion lastyear, including $7.4 billion in catastrophe claims. Lloyd's callsthis the “largest catastrophe-claims year on record for the324-year-old insurance market.”
Lloyd's notes that the year includes flooding in Australia inJanuary, the second earthquake in New Zealand in February, theJapanese earthquake and tsunami in March, and flooding in Thailand over the summer.
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