According to the publication, Lloyd declined to comment.
Earlier this week, centuries-old exchanges said: “For Lloyd, despite having representatives around the world, activity in Russia and Belarus is less than 1% of the businesses we trade in. But we are who the world is too connected and who of us We know that we can’t stand by, and insurance is so deeply rooted in the global economy that we can’t play a positive role.
“Therefore, we will continue to develop our expertise, resources and networks covering key areas such as cyber, space and political risk to help us achieve effective sanctions on Russian assets.”
“We have been in frequent discussions with the UK and international regulators since the conflict began,” he added. “We are carefully considering how sanctions will have the greatest impact, so we have a close relationship with these agencies. We guarantee that it will be maintained. “
Meanwhile, Garrett Hanlahan, head of Marsh’s global aviation division, will hit US $ 5 billion in insurance, which could be the biggest aviation loss in history if a failed recovery of a left-behind plane fails. I think there is a possibility. He suggested that if the war intensified, it might be necessary to seek public-private solutions to deal with the losses.
“The spillover effect from this terrible situation will be widely felt.” Financial Times Caroline Wagstaff, Chief Executive Officer of the London Market Group, said: “Perhaps there are significant claims made across the market, and the market is working to understand its scope and size.”
The war between Russia and Ukraine is set to affect the insurance industry with great losses
Source link The war between Russia and Ukraine is set to affect the insurance industry with great losses