Russia-Ukraine war set to impact insurance industry with huge losses

Lloyd’s declined to comment, according to the publication.

Earlier this week, the centuries-old exchange stated: “For Lloyd’s – despite our market having representatives all over the world – our activities in Russia and Belarus represent less than 1% of the business we transact. However, we know the world is too connected for any of us to sit on the sidelines. And insurance is too ingrained in the world economy for us to not play an active role.

“So, we’ll keep deploying our expertise, resources and networks – covering crucial areas like cyber, space, and political risk – to help deliver

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