Lloyd’s this week said it will lose $2.3 billion from the Los Angeles wildfires in January, adding to the number or companies that have paid out more than $1 billion in losses from the catastrophe.
The company revealed the losses in a partial release on its yearend results for 2024. The company, which plans to release the full results on March 20, also announced that gross written premium rose by 6.5% to £55.5bn, reflecting 8.5% growth, primarily in the property and reinsurance segments which had a strong underwriting performance in the year.
“Whilst not included