Troubled waters: Lloyd’s of London sees bottom line hit by hurricanes

Lloyd’ s of london has slumped to its first loss for six years after a string of devastating hurricanes and earthquakes in 2017 sent it tumbling by £2 billion into the red. The insurance market said major claims more than doubled to £4.5bn in an “exceptionally difficult” year, with insurers hit by mammoth bills following hurricanes in the Caribbean and Florida, earthquakes in Mexico and wildfires in California. It was one of the “costliest years for natural catastrophes in the past decade”, the group noted yesterday.