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On Friday, Lloyd’s announced that claims to the Lloyd’s market arising from Hurricane Ian are estimated to be in the range of $2.3 billion to $3 billion.

The estimate is based on third-quarter data provided by Lloyd’s syndicates.

Lloyd’s estimates its net market share of the total industry loss will be 3-5 percent.

The statement from Lloyd’s also said that this is within Lloyd’s range of modeled outcomes and has no impact on Lloyd’s solvency position.