Articles - Lloyd's maintains strength after largest catastrophe claims

 For the Lloyd’s market, 2011 was the largest catastrophe claims year on record, and Lloyd’s today announced a loss of £516m. The Lloyd’s market incurred total net claims of £12.9bn, including £4.6bn of catastrophe claims.

 Chief executive Richard Ward said “Make no mistake, 2011 was a difficult year for the insurance industry. Given the scale of the claims, a loss is unsurprising but it reflects what we’re here to do–help communities and businesses rebuild after disaster.

 It is also reassuring that, despite this loss, our financial strength has been maintained. It’s testament to Lloyd’s robust oversight and professionalism in the market today.”