For the first time in six years, Lloyd’s is reporting a loss. On 21 March the insurance market disclosed a GBP 2.0bn (USD 2.5bn) shortfall, following a devastating 2017 hurricane season, the impact of which was compounded by earthquakes and other natural disasters. Although Lloyd’s won’t run out of capital anytime soon, total insurance sector losses from climate events were estimated at USD 135bn in 2017. 

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