"London Insurers Face Baltimore Bridge Payouts Worth Billions"

From Bloomberg, March 27:

• Claims seen between $1 billion and $3 billion: Barclays
• Lloyd’s of London marine insurers seen as most exposed

Insurers face claims of as much as $3 billion following Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore, with firms on the Lloyd’s of London market most exposed, Barclays Plc analysts said....

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.... Insurance risk will be spread across firms due it being syndicated, the Barclays analysts said, noting the policy was led by AXA XL. Other major marine reinsurers include Hannover Re, Swiss Re AG, Munich Re and RenaissanceRe. The significant involvement of Lloyd’s of London may make smaller London Market reinsurers comparatively more exposed, they added....

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