LLOYD’S OF LONDON INSURANCE FACE CLAIMS BILL OF $4.5 BILLION RESULTING FROM RECENT HURRICANES AS HALF YEAR PROFIT SLIP

Lloyd’s of London said it has already shelled out significant amounts for hurricane losses.

The group’s half-year pre-tax profits fell from £1.46 billion to £1.22 billion.

The company confirmed that it had already paid out significant amounts to cover claims following the recent hurricanes which hit Florida, Texas and the Caribbean.

The aftermath of hurricanes Irma and Harvey has left Lloyd’s potentially facing claims totaling $4.5 billion.

In the last six months, Lloyd’s which is the world’s biggest Insurance company in major markets, saw its pre-tax profits fell by £24 million from £1.46 billion to £1.22 billion.

This excludes the impact of recent natural disasters.

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