Lloyd’s estimates Hurricane Ian claims between US$2.3bn - US$3bn

Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk, announced that claims to the Lloyd’s market arising from Hurricane Ian are estimated to be in the range of US$2.3bn - US$3bn net of reinsurance, based on Q3 data provided by Lloyd’s syndicates.

Lloyd’s estimates its net market share of the total industry loss will be 3-5%. This is within Lloyd’s range of modelled outcomes and has no impact on Lloyd’s solvency position.

Burkhard Keese, Chief Operating and Financial Officer, Lloyd’s, said: 

“Our thoughts are first and foremost with all those affected by the devastating events that have occurred this year, and as ever Lloyd’s stands ready to support its customers through these difficult times.

“We are providing a claims estimate figure for Hurricane Ian outside of our usual financial reporting cycle to provide transparency to the market and will report our 2022 year-end financial results in March 2023.”