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 …
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 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 …
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 …
