Lloyd’s of London said it suspended 199 members.

The members were suspended from underwriting with the world’s biggest insurance market after they failed to meet solvency requirements. The suspended members belong to syndicates that are facing record underwriting losses of about $185 million. As a result of the suspensions, Lloyd’s, whose total membership is about 26,000, is setting aside a record $80 million from its central fund to ensure that all valid claims on policies underwritten by the suspended members are met. Lloyd’s said an additional 27 members have been granted an extension to Oct. 31 to pass the solvency test or be suspended.