Lloyd's also forecast that Hurricane Rita would cost it 535 million pounds and that Hurricane Wilma would add 483 million to the total.

As a result, the market said that chances of posting a profit for 2005 were weak.

"The net loss from Katrina is now estimated at 1.9 billion pounds," Lloyd's said in an official statement.

"This compares with the provisional estimate of 1.4 billion given by Lloyds on 14 September which was based on the very limited information available at the time."

The three US Gulf Coast hurricanes would cost Lloyd's a total of 2.918 billion pounds, compared with 1.3 billion pounds for all hurricanes during the 2004 Atlantic season.

Lloyd's had previously forecast a full-year profit, despite taking a large financial hit from Katrina and Rita, following publication of its half-yearly results in October.

That forecast was made "provided there were no further major catastrophic losses or other unforeseen events", Wednesday's statement said.

It added: "The impact of Wilma, which occurred after the interims, and the development on Katrina together amount to approximately 1.0 billion."

"As a result, the chances of the market making a profit in 2005 are now small."

The Lloyd's insurance market remained "financially strong", the statement added, while the market "expects to be able to meet all its liabilities".

Lloyd's said its member syndicates have set aside 14.7 billion pounds to write new business next year, a 7.0 percent increase on 2005, in anticipation that this year's hurricanes will push up insurance prices.

Lloyd's had announced in October a 20.6-percent rise in pre-tax profit to 1.377 billion pounds for the six months to June 30, compared with 1.142 billion pounds during the same period a year earlier.

Hurricane Katrina, which devastated the city of New Orleans on August 29, was the costliest US hurricane on record, with losses officially estimated at some 80 billion dollars.

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