Two Lloyd's insurers have announced their pre-tax profits will be hit by the four US hurricanes and the typhoon in Japan.
Amlin announced that its pre-tax profit would be down by £30m, while Catlin put the loss at £28m.
Amlin released a statement saying it had received gross claims of $263m, reduced to $133m after reinsurance.
Both groups believed the scale of the impact on their financials would end positively for the insurance market throughout 2005.
Catlin said it believed the losses incurred by the recent hurricanes would have a positive effect on rate levels and underwriting discipline worldwide.
