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Lloyd’s reports £3.4bn in Covid-19 losses for 2020

By 2021-03-31T07:40:00

financial, covid (2)

The market believes its pandemic payouts will reach £6.2bn on a gross basis, which contributed to an aggregated loss of £0.9bn for 2020

Lloyd’s of London has reported net incurred losses of £3.4bn in 2020, after reinsurance recoveries, attributed to the Covid-19 pandemic – the market predicts that its pandemic payouts will reach £6.2bn on a gross basis, with Covid-19-related claims adding 13.3% to its 2020 combined ratio of 110.3%.

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