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Lloyd's: 2005's $181M Loss 'Not Bad'

Lloyd's reported a 2005 pretax loss of $181 million--a big difference from the profit of $1.5 billion for the previous year, but not too bad considering last year's record storm season, according to

By Steven Tuckey | Updated on April 23, 2006

Lloyd’s reported a 2005 pretax loss of $181 million–a big difference from the profit of $1.5 billion for the previous year, but not too bad considering last year’s record storm season, according to the market’s chairman, Peter Levene.

The Lloyd’s market posted $5.8 billion in net claims–its costliest year ever, exceeding the losses stemming from the Sept. 11, 2001 World Trade Center terrorist attacks, noted Lord Levene.

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