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Lloyd's withstood storms well, reinsurance broker says.

Lloyd's "relatively small" loss in 2005 marked a "strong" underlying performance in the face of massive hurricane claims, reinsurance broker Guy Carpenter & Co. said in its fourth annum report on the Lloyd's market.

Net hurricane losses of 3.31 billion [pounds sterling] (about $6 billion) drove Lloyd's to an overall loss of 103 million [pounds sterling] (about $187 million) in 2005.

The combined ratio--losses and expenses as a percentage of premiums--was 111.8 in 2005, which includes 28.1 points of losses associated with hurricanes Katrina, Rita and Wilma, Guy Carpenter said. By comparison, the market's combined ratio was 96.6 in 2004. All of the Lloyd's market's noncatastrophe lines, including casualty, marine, motor and aviation, were profitable, Guy Carpenter said.
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Title Annotation:Lloyd's Life Assurance Ltd.
Publication:Best's Review
Article Type:Brief article
Geographic Code:1USA
Date:Aug 1, 2006
Words:121
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