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rdf:type	schema:NewsArticle
schema:articleBody	Lloyd's of London on Thursday raised its estimate for the total amount it expects to pay out in coronavirus-linked claims as the cost of the global pandemic continues to mount for insurers. The world's largest insurance market said in a statement that it now expects to pay out up to £5.0 billion ($6.5 billion, 5.5 billion euros) in claims, compared with an earlier estimate of $4.3 billion in May. Lloyd's said it expects to recoup £2 billion of the payouts from reinsurers. "The first half of 2020 has been an exceptionally challenging period for our people, our customers, and for economies around the world," chief executive John Neal said in a statement. "The pandemic has inflicted catastrophic societal and economic damage calling for unparalleled measures to stifle the spread of the virus, and to get businesses and economies back on their feet." Lloyd's said its Covid-19 claims after reinsurance recoveries totalled £2.4 billion in the first half, pushing it into a pre-tax loss of £438 million. In May, Lloyd's estimated that pandemic would cost the global insurance industry more than $200 billion. bcp/spm
schema:headline	Lloyd's of London says coronavirus claims could reach £5bn
schema:mentions	Insurance London Pandemic Virus Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Reinsurance Working animal
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	61 (xsd:integer)

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