Lloyd's, the world's leading insurance market, issued the following statement on the impact of Hurricane Katrina on Tuesday 30 August, 2005.
"Lloyd's expects to receive significant insurance claims as a result of Hurricane Katrina, predominantly in relation to offshore energy installations in the Gulf, property damage and business interruption.
"We are today asking all insurers at Lloyd's to supply details of the likely impact on their businesses, by Monday 12 September. Those returns will allow us to give more information about the market's overall exposure.
"Despite the severity of Katrina, the Lloyd's market is well-equipped to manage the financial impact of a catastrophe on this scale.
"Clearly Katrina had a major impact on businesses and communities in the Gulf Region of the US Lloyd's priority now will be to assess and settle claims as speedily as possible, to help the reconstruction of that area."
For further information, please contact:
Caroline Daniell
Tel: +44 (0)20 7327 6256 Fax: +44 (0)20 7327 5229 Email:
caroline.daniell@lloyds.com
Louise Shield
Tel: +44 (0)20 7327 5793 Fax: +44 (0)20 7327 5229 Email:
louise.shield@lloyds.com
Melanie Batley
Tel: +44 (0)20 7327 6125 Fax: +44 (0)20 7327 5229 Email:
melanie.batley@lloyds.com
Steve Farrance
Tel: +44 (0)20 7327 6096 Fax: +44 (0)20 7327 5229 Email:
steve.farrance@lloyds.com
For urgent out of hours media calls Tel: +44 (0)7659 597 825
Find out more about Lloyd's
Lloyd's is the world's leading specialist insurance market with a capacity to accept insurance premiums of more than £13.7 billion in 2005. It occupies sixth place in terms of global reinsurance premium income, and is the second largest surplus lines insurer in the US. In 2005, 62 syndicates are underwriting insurance at Lloyd's, covering all classes of business from more than 200 countries and territories worldwide.
Lloyd's is regulated by the Financial Service Authority.
