Mazars predicts £1.5bn loss at Lloyd’s
Accountancy firm Mazar’s has warned that 2011 is on course to be the most expensive catastrophe year on record and that Lloyd’s combined operating ratio is set to exceed 120% for the first half of the year.
Ahead of Lloyd's interim results on 21 September the accountancy firm said that with just over one quarter of the Lloyd's market having already reported their results, its calculation showed losses could exceed £1.5bn for the first six months of 2011.
Andrew Goldsworthy, insurance partner at Mazars, said: "2011 is expected to be the most expensive catastrophe year on record, with the first half of 2011 already having seen greater losses than the whole of the previous record-holder: 2005, the
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