Hurricanes Hit Lloyds Harder Than Japan Will, Levene Tells Sky

Lloyd’s of London Chairman Peter Levene told Sky News claims arising from the natural disaster in Japan won’t be “anything like as significant” as those that followed the Atlantic hurricanes, including Katrina and Rita, in 2005.

“Our major exposure is modeled on what would happen if such an earthquake hit Tokyo,” he said in an interview. “It didn’t hit Tokyo,” Leven said.

The Japanese earthquake and tsunami “will be a major hit, but one which we would regard as being in the normal course of business,” Levene said to Sky News.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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