The insurance market Lloyds of London has announced a loss for 2011, saying it was its worst year for catastrophe claims. It lost £516m in 2011, compared with a pre-tax profit of £2.2bn in 2010. It incurred net claims of £12.9bn in the year, including £4.6bn of catastrophe claims.
Catastrophes during the year included flooding in Australia and Thailand, the earthquake and tsunami in Japan and the earthquake in New Zealand.