Natural disasters helped lead to a second consecutive year of losses for Lloyd’s of London, which has reported a £1bn ($1.3bn) loss for 2018. The company said it had been hit by the impact of Hurricane Irma in September and was still trying to recover from flooding caused by Tropical Storm Harvey. The Lloyd's market saw £2.9bn in natural disaster related claims this year. CEO John Neal was confident 2019 plans would put Lloyd’s back in profit.
Natural disasters helped lead to a second consecutive year of losses for Lloyd’s of London, which has reported a £1bn ($1.3bn) loss for 2018. The insurance market said disasters had included hurricanes Florence and Michael, California’s wildfires and Japan’s Typhoon Jebi. The Lloyd's market saw £2.9bn in natural disaster related claims this year. CEO John Neal was confident 2019 plans would put Lloyd’s back in profit.