Lloyd’s of London swings to loss after £21bn Ukraine and Hurricane Ian claims

World’s biggest insurance market reports pretax deficit of £800m for 2022 after profit of £2.3bn in 2021

Lloyd’s of London has swung to an annual loss as it paid out more than £21bn to customers for claims relating to the war in Ukraine and Hurricane Ian in the US.

The world’s biggest insurance market reported a pretax loss of £800m for 2022, compared with a profit of £2.3bn in 2021.