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| Version 1 | Version 2 |
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| Lloyd's of London in profit despite Superstorm Sandy | Lloyd's of London in profit despite Superstorm Sandy |
| (about 5 hours later) | |
| Insurance market Lloyd's of London has returned to profit, despite paying one of the biggest claims in its history. | Insurance market Lloyd's of London has returned to profit, despite paying one of the biggest claims in its history. |
| Superstorm Sandy, which hit the Caribbean and North America in October 2012, resulted in a £1.4bn payout. | Superstorm Sandy, which hit the Caribbean and North America in October 2012, resulted in a £1.4bn payout. |
| But Lloyd's still made pre-tax profits of £2.77bn ($4.19bn; 3.26bn euros), reversing a loss of £516m for 2011, the market's costliest year on record. | |
| Claims costs fell from £12.9bn to £10.1bn, while gross premiums reached a record high of £25bn, Lloyd's said. | Claims costs fell from £12.9bn to £10.1bn, while gross premiums reached a record high of £25bn, Lloyd's said. |
| Lloyd's chief executive Richard Ward said: "The Lloyd's market has posted a strong result, despite incurring £10bn of total net claims in 2012, including Superstorm Sandy, one of the costliest natural catastrophes in history." | Lloyd's chief executive Richard Ward said: "The Lloyd's market has posted a strong result, despite incurring £10bn of total net claims in 2012, including Superstorm Sandy, one of the costliest natural catastrophes in history." |
| He said the economic environment remained "challenging", but with £59.3bn of resources at its disposal, the business was "capitalised at record levels". | He said the economic environment remained "challenging", but with £59.3bn of resources at its disposal, the business was "capitalised at record levels". |