Lloyd's expects total claims of around £2.4 billion from the Japanese earthquake and tsunami, the earthquake in New Zealand and the floods in Australia.

The Japan disaster alone is expected to generate half the claims. The earthquake in New Zealand and the floods in Australia are expected to cause claims of £750 million and £406 million respectively.

Rates will rises on the back of the disaster, Lloyd’s added in a statement.

Industry losses worldwide for the disaster are Japan (£18.8bn); New Zealand earthquake (£9bn) and Australian floods (£3.1bn).

Chief executive Richard Ward said: "The Lloyd's market is as well-capitalised as it has ever been, and, while claims from all three events could still evolve over time, the market's total exposure is well within the worst case scenarios we model and prepare for."

He added: "As ever, our priority remains to assess and settle valid claims as swiftly as we can to help these communities get back on their feet."

Lloyd's recently reported that profits fell 43% to £2.2 billion in 2010 after being hit by a string of natural disasters including the earthquake in Chile.