The insurance market has begun paying “significant amounts” to those affected by the hurricanes.
Losses linked to Hurricane Maria, which made landfall on Caribbean islands this month, have not yet been quantified.
Lloyd’s half-year results, which do not take into account the recent storms, showed pre-tax profit down from £1.46billion to £1.22billion as it faced pressure from low interest rates and excess capital.
Gross written premiums increased by 16 per cent to £18.8billion.
CEO Inga Beale said: “There was limited major claim activity in the first half. A very different second half is emerging – not only the hurricanes, but the Mexican earthquakes and floods in Asia.
“The market is assessing claims and starting to make payments that will help local communities and get businesses back on their feet as quickly as possible.”
“It is clear that 2017 is a major catastrophe year,” said Simon Kilgour, an insurance partner at the law firm CMS.
“The current-year losses are expected to wipe out industry earnings and impact capital for the first time since 2005.”