Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

Disasters drive Lloyd's of London to 1st half loss

Business Sep. 22, 2011 - 05:14AM JST ( 6 )

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6 Comments

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some14someSep. 22, 2011 - 07:48AM JST

Risk Management that includes natural causes and disasters as well. Moreover, loss is a part of business...why is this news? may be Lloyd's should have insured themselves with some other company ?!
1

Christina O'NeillSep. 22, 2011 - 09:41AM JST

No doubt they will put up their premiums to compensate for their losses
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Eleanor GoldsmithSep. 22, 2011 - 01:38PM JST

Yup, our house insurance here in NZ went up this year and I suspect travel insurance premiums will be on their way up as well - it's been a shocking year for disasters (not to mention some expensive accidents and illnesses for some travel customers).
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mrsynikSep. 22, 2011 - 11:17PM JST

Lloyd’s, which has no connection with Lloyds Banking Group PLC

No official connection, just something in common. Lloyds TSB and Lloyds of London have both lost money.
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globalwatcherSep. 23, 2011 - 04:41AM JST

Do not forget to add AIG loss of 9/11, the Andrew, the Katrina and US financial blow of 2008 that are not included to this financial report. I hope they are financially sustainable in this global economic downturn.
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SwissToniSep. 23, 2011 - 09:04PM JST

mrsynik, neither lloyds TSB nor the banking group made a loss in 2010. On the contrary, on the back of the taxpayer and their failure to lend, they made a fat £2.2bn profit. Lloyds of London are a group underwriters, essentially they a take a bet (a fee) and if there's a disaster, the cash payout comes from their, and their members big fat wallets. If theres no problem, Lloyds and their Names pocket the money. I imagine they'll lose a few Names this year.