Thailand flooding claims estimated at £1.4bn
Lloyd's has announced its estimated net claims from the flooding in Thailand last year will be $2.2bn (£1.4bn).
This figure, which is based on market share analysis, a review of contracts in place and estimates from each of the insurer's syndicates, may change as more information comes to light.
Claims may continue to arise for some time due to the knock on impact of business interruption.
However, the flooding is not expected to lead to any material claims on the central fund nor to any material change in the overall level of capitalisation of the market.
Richard Ward, chief executive at Lloyd's, said:
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