Lloyd's of London insurers boosts capital by $4 billion following large cat losses
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Inga Beale, chief executive of Lloyd's of London, and Bruce Carnegie-Brown, the market's chairman, said that insurers at Lloyd's have added more than $4 billion in capital following large natural catastrophe losses in 2017, Reuters reported. The capital has been provided "to restore capital resources to the level prior to the third quarter's loss events and to cover changes in capital requirements for 2018 underwriting," said Ms. Beale and Mr. Carnegie-Brown. "No syndicate has ceased trading due to the storms," they added.
