Lloyd's reputation in the US will be bolstered by its reaction to the World Trade Centre attack in 2001. That's according to Lloyd's chairman Lord Levene.
According to reports in the FT, Levene told US experts that: "At the time of 9/11, a lot of pundits said 'that's it, that will finish off Lloyd's for good - they'll never survive this'.
"The truth was very different. Everybody was paid. Lloyd's took the largest hit of any individual insurer but we nevertheless came through it."
Lloyd's suffered a gross loss of £5.4bn from 11 September, which Levene claimed should be reduced to a net loss of £2bn after the recovery of reinsurance.
Levene was lobbying in the US last month to stress the importance of the US market. The US currently contributes 35% of Lloyd's total premium income.
Levene added: "Today it is much more likely that our importance there arises from our market's unwavering reaction to the terrible losses of September 11, with Lloyd's bearing the largest share of the gross loss.
"I believe that 100 years from now, September 11 will be mentioned in conjunction with Lloyd's in the same way that the San Francisco earthquake is today."
