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Lloyds Hurricane Season Losses

Lloyd's halts syndicate profit distribution as it assesses hurricane losses

Chief financial officer says market must recapitalise quickly

  • News

Lloyd’s has suspended the distribution of profits by syndicates as it assesses the impact of this year’s devastating hurricanes.

The corporation disclosed today early preliminary loss estimates of $4.5bn for Hurricanes Harvey and Irma.

Lloyd’s is still assessing the impact of Hurricane Maria, but analysts suggested the scale of this year’s catastrophe losses could hit the market's capital levels.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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