The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% premium growth while maintaining underwriting discipline. Lloyd’s saw a continuation of positive returns with profit before tax of £9.6 billion ($12.4 billion) during …
Now that the market has achieved a first-half profit of £4.9 billion with a combined ratio of 83.7—its best interim results in 17 years—does this mean the hard market cycle is ending? During a media briefing to discuss Lloyd’s results, …
The Lloyd’s insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6% increase from the £3.9 billion (US$5.1 billion) reported during H1 2023. The combined ratio, which is a key measure of underwriting profitability, …
Lloyd’s of London swung to a pre-tax profit of 10.7 billion pounds ($13.51 billion) in 2023, the commercial insurance market said on Thursday, boosted by strong underwriting and investment performance. The insurance market, which has more than 50 member firms, …
Lloyd’s strong 2023 results reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to discuss preliminary results. Burkhard Keese, Lloyd’s chief financial officer, …
Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making …
Lloyd’s of London swung to a pre-tax loss in 2022 and took writedowns on its fixed-income investments, it said on Thursday. The pre-tax loss was 800 million pounds ($982.56 million), compared with a profit of 2.3 billion pounds a year …
Lloyd’s reported an interim full-year 2022 loss before tax of £800 million ($947.6 million) as a result of investment losses of approximately £3 billion ($3.6 billion). This compares to a profit of £2.3 billion ($2.7 billion) and investment income of …
Lloyd’s announced that the market’s claims from Hurricane Ian are estimated to be in the range of US$2.3 billion – US$3 billion, net of reinsurance, based on Q3 data provided by Lloyd’s syndicates. Lloyd’s estimates its net market share of …
While Lloyd’s reported a strong underwriting profit during the first half and its best combined ratio in five years, similar to many insurers, it saw an overall loss as a result of its investments. Underwriting profits for the first six …
