Magazine date:
May 2006 For the first time since the 9/11, 2001 disaster, the London market has reported a loss of 103 million £ (185.61 million USD) in 2005 against profits of 1.4 billion £ (2.52 billion USD) reported the previous year. With hurricanes Katrina, Rita and Wilma, Lloyd's has witnessed a catastrophic cyclonic season. Alarmist meteorologists are forecasting an even worse 2006 season, because, apart from the Gulf of Mexico and Florida, bad weather could extend to New York and New England, a worrisome prospect for the whole business.