Lloyd’s of London recorded losses of £697m today following the insurance industry’s costliest half year on record for catastrophes.

A takeover vehicle run by former Northern Rock boss Gary Hoffman suspended its shares today in a further sign that it is moving in on a deal which could see it form one of the UK’s largest high street lenders.

Insurance group Zurich today estimated that claims arising from hurricanes Gustav and Ike would cost it around $600m (€470m).

Lloyd’s of London today announced a £3.8bn (€4.8bn) profit after the insurance market benefited from a limited exposure to catastrophes in 2007.

The UK Treasury today announced that the beleaguered bank Northern Rock will be nationalised.

The board of beleaguered Northern Rock will attempt to fight off demands from shareholders for a greater say in the firm’s future at an extraordinary meeting this week amid speculation the bank could be renationalised within days.

Casino mogul Steve Wynn has described an offer by Lloyd’s of London to settle his €42m insurance claim over a damaged Picasso as “ridiculous”.

Insurance company, Lloyd's of London, are assessing the cost of today's plane crash in New York.

A United States regulator is set to investigate the solvency of the Lloyd’s of London insurance market to check that it can meet its £1.3bn exposure to the terrorist disaster, it was disclosed today.

Holidaymakers were today urged to check their travel insurance after it emerged that policies had been issued under the name of Lloyd’s of London without its authority.