Lloyd’s Statement on Asian Tidal Waves

December 31, 2004

Lloyd’s has issued a bulletin expressing the London market’s solidarity with the victims of the Indian Ocean tidal waves, stating: “Our thoughts are with the people who have been affected by this tragedy. The priority must be to get humanitarian aid to the region.”

Lloyd’s also indicated that it is closely monitoring the developing situation in Asia, but expects its exposure “to be limited to holiday resorts, personal accident, travel insurance and marine risks.”

The bulletin also observed: “Communication links are currently restricted so there is limited information coming out of the affected areas. As a result, it is not possible at this time to determine the extent of our exposure. However, we will continue to monitor the situation as more information becomes available over the coming days and weeks.”

It added that Lloyd’s is in communication with businesses in the market in order to assess the financial impact of this natural disaster, but, as indicated, “this may take some time.”

Lloyd’s assured policyholders that one of its top “priorities, as always, will be to settle any claims as speedily and efficiently as possible, to assist the regeneration of the areas affected.”

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