Lloyd’s syndicate Chaucer saw operating income fall to just $5.5mn for the second quarter as catastrophe losses and a weak pound took their toll on the carrier’s bottom line, its American owner The Hanover reported today.
The result marked a significant deterioration from the $42mn profit the syndicate posted for the same period in 2015.
The Lloyd’s carrier suffered losses totalling around $26mn from wildfires in Canada as well as earthquakes in Ecuador and Japan.
The catastrophes pushed the carrier…Read more @ Insurance Insider