Lloyd's insurer SVB increased its loss estimate from the World Trade Centre attacks in the US from £20m to £30m.
The new figure is equivalent to a loss of about 15p a share before tax. Its original estimate, made on 17 September, was just over 10p per share.
The company, which operates five syndicates on the Lloyd's market, said the increase was a result of new notifications of claims and revisions of previous notifications.
The estimate includes provision for reinsurance payments and bad debt.
SVB last month bought £30.4m of extra capacity at Lloyd's, which it said would increase its opportunity to profit from rising rates.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
