Lloyd's of London warns Ukraine war will be a major claim

Global specialist insurer Lloyds of London said on 24 March that it "believes that the ongoing conflict in Ukraine will be a major claim to the market in 2022 and is in close dialogue with market partners to understand exposures".  The warning came in a statement announcing a strong return to profitability in its 2021 full year financial results - "the best quality result reported for six years" - with an overall profit of £2.3bn (2020: £0.9bn loss) and a combined ratio of 93.5% (2020: 110.3%). Business underwritten by the Lloyd's market in Ukraine, Russia and Belarus currently repres...