INTERNATIONAL
From Times Staff and Wire Reports
Lloyd’s Calls Emergency Meeting: Lloyd’s of London insurance market, facing the worst losses in its history and pressure from angry investors, has announced a special general meeting set for July 24. Investors, known as “names,” presented a 110-name petition calling for an ouster of Lloyd’s ruling council. Lloyd’s confirmed that its loss for 1989--the year for which accounts were finalized--was about $3.72 billion, the worst results the insurance market has experienced. The loss, blamed on a string of disasters, is nearly four times the $949-million deficit for 1988.
