Tuesday, February 14, 2012

THE GUARDIAN: Thailand flooding costs Lloyd's of London $2.2bn

Lloyd's of London has estimated that it is liable for $2.22bn (£1.4bn) of net claims from the flooding that devastated Thailand last year.

In a first calculation of its liability for the damage, released on Tuesday, the insurance market said the claims were unlikely to require members to make "material claims" on its central fund or reduce the overall level of capitalisation of the market.