Moody’s Investors Service Ltd. is forecasting that Lloyd’s of London will report losses of $5.23 billion for the four years of 1998 and 2001.
Under Lloyd’s three-year accounting system, the next results due to be published are for 1998. Moody’s forecast of a loss for that year remains unchanged from earlier predictions at around $1.64 billion.
Moody’s said the insurer’s loss forecast for 1999, however, has increased to an estimated $2.24 billion, worse than previously expected and representing the bottom of the current down cycle. Lloyd’s 2000 loss will be about $1.07 billion, according to Moody’s, and the 2001 loss will be around $246.4 million.
Moody’s expects the results of Lloyd’s syndicates to vary widely, though it forecasts losses in 1998, 1999 and 2000 in each of the main Lloyd’s sectors, including marine, non-marine, motor and aviation.
Topics Profit Loss Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Florida Board Drafting Rules That Could Stem Bogus Engineering Reports in Claims 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
Grandson Not Covered Under Grandma’s Home Insurance 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
