From The Guardian, September 8:
Insurance market warns of financial fallout from conflict and tough year of natural catastrophes
Lloyd’s of London has warned of a “challenging year” of natural catastrophes, the invasion of Ukraine and inflation as the world’s oldest insurance market took a £1.1bn hit from unrecoverable planes and cargoes related to the war in Ukraine.
The group said it had set aside the sum for customers affected by the conflict, mostly for grounded aircraft, ships trapped in the Black Sea and disrupted exports of cereals and agricultural products from Ukraine and Russia.
Lloyd’s also insures ships transporting grain from Ukraine’s ports under a UN-brokered deal in July. It has worked with the UK government to implement sanctions imposed over the war, including cancelling Russian firms’ insurance cover....
....MUCH MORE
