Lloyd’s of London sees insurers facing US$10b-US$15b in claims from Ukraine war

Lloyd’s of London is bracing for a US$1.26 billion hit from Russia’s war in Ukraine. Claims are expected to rise because of grounded planes, stranded cargoes and bad debts caused by the conflict. Lloyd’s predicts insurers globally may face claims of around US$10 billion to US$15 billion from the conflict. Bruce Carnegie-Brown, Chairman of Lloyd’s of London spoke to CNA about the challenges the war poses.

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