Lloyd’s of London, the world’s oldest insurance market, said claims before tax from superstorm Sandy will probably cost between $2 billion to $2.5 billion.
The estimate is consistent with total insurance industry losses of between $20 billion and $25 billion, Lloyd’s said in an e-mailed statement today. The London-based market said it expects a “minimal impact” on its member capital, while the central fund won’t be affected.
