Lloyd’s results News

Lloyd’s Expects ‘Major Claim’ From Russia-Ukraine War, Reports ‘Strong’ Profit in 2021

Lloyd’s, the world’s leading insurance and reinsurance marketplace, announced “a strong return to profitability” in its 2021 full year financial results, with an overall profit of £2.3 billion ($3.04 billion), compared to a loss of £900 million ($1.2 billion) in …

Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio

Lloyd’s of London reported pre-tax profit of £1.4 billion (US$1.9 billion) for the first half of 2021, compared to a £400 million (US$550.8 million) loss during H1 2020. The market’s profit was driven by a “substantially improved” underwriting result of …

Lloyd’s Expects Large Loss from Suez Canal Blockage

The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 …

Lloyd’s Underlying Underwriting Results See ‘Huge Improvement’ Despite COVID Losses

While Lloyd’s overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market’s underlying underwriting performance saw a “huge improvement,” which Chief Executive Officer John Neal said is a “real testament to the …

Lloyd’s Reports First Half Loss of $520M on COVID-19 Insurance Claims

Lloyd’s of London recorded a pretax loss of 400 million pounds ($520.08 million) in the first half, battered by the coronavirus pandemic, the commercial insurance market said on Thursday. Insurers around the world have paid out on event cancellation, travel, …

Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks

Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result of the COVID-19 pandemic. This payout is on a par with the Sept. 11 terrorist attacks, which cost the Lloyd’s …

Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal

Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too early for the market to assess the …

Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19

While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was the first since 2016 …

Lloyd’s Returns to Profit in 1st Half After 2 Full Years of Losses

Lloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses. The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds ($2.8 billion) in the first six months …