Lloyd's of London chief executive Richard Ward
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2012 'a normal year' for Lloyd's of London

Insurance market Lloyd's of London has returned to profit, after posting a loss in 2011.

Chief executive Richard Ward told the BBC that Superstorm Sandy, which hit the Caribbean and North America in October 2012, had cost the company $2.2bn (£1.4bn), but that was reflective of payouts for the last decade.