Cox Insurance Holdings has forecast that the terrorist attacks in the US will result in net claims of £30m.
It said its losses would be compounded by the rising cost of reinsuring its risk. That cost is expected to rise to £12m, giving an overall net loss of 24p per share.
Cox included the announcement with the release of its results for the six months to June. It posted a 46% rise in operating profit to £23.9m, from £16.3m in the same period last year.
The company said it would not be paying an interim dividend due to the uncertainty caused by the attacks in the US.
