Lloyd's bullish on opportunities as prices firm.(Lloyd's of London)(Statistical Data Included)

Business Insurance, August, 2000 by VEYSEY, SARAH

Lloyd's of London has had an up-and-down year. While the Jaffray vs Lloyd's fraud case this spring recalled the turbulent period following Lloyd's huge losses in the early 1990s, the market is optimistic about its future. "Lloyd's is now firmly re-established as an authoritative commentator.

We are where we should be in the industry," said its chairman, Max Taylor. But some observers predict Lloyd's will face some large losses. Moody's Investors Service Ltd. is predicting consecutive losses for the accounting years 1998 to 2000. Poor market conditions and higher claims will mean a L1 billion ($1.62 billion) loss for the 1998 year, a L1.2 billion ($1.94 billion) loss for 1999 and L700 million ($1.13 billion) for 2000, Moody's said. Although Lloyd's 1999 year of...

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