World Insurance Report
Market looks to 2002 underwriting year for profit after WTC losses
No real surprises from
Lloyd’s on the publication of its global results for 2001. The closed 1999 underwriting year, marking the bottom of the insurance
cycle, turned in a loss of £1.9bn but continuing poor trading conditions followed by the events of 11 September mean 2000
and 2001 will be unprofitable years too.