Lloyd's sees GWP and COR deteriorate in first half of 2014
Market noted that UK motor sector remains challenging.
Lloyd’s of London has reported gross written premium of £14.86bn for the first six months of 2014, down from £15.49bn in the same period of last year.
The market saw profit before tax grow from £1.38bn to £1.67bn, however combined ratio worsened, from 86.9% to 88.2%.
Lloyd’s said that conditions in its more specialist UK motor sector “remain challenging”.
It added: “Whilst major legal reforms introduced last year may in time help reduce claim costs, claims frequency remains high in this very
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
MIB appoints Angus Eaton as CEO
The Motor Insurers’ Bureau has named Angus Eaton from Hastings Group as its new CEO, taking over from Dominic Clayden in July.
Biba weighs in with “grave concerns” on FCA ‘name and shame’ proposals
The British Insurance Brokers’ Association has called on the Financial Conduct Authority to consider the risk of the damaging impact its proposal to name firms at the start of an investigation could have and flagged the danger of serious injustice for innocent businesses.
People Moves: 29 April – 3 May 2023
Follow for the latest insurance personnel moves.
Meet the MGA: Aurora
Jan-Vincent Finn, co-founder and CEO of Aurora, explains how the MGA, named after the Northern Lights, plans to become the one-stop shop of all SME commercial lines using algorithmic insights.
Biba Conference 2024 countdown: Allianz’s Serge Raffard and Nadia Côté
Serge Raffard, MD of Allianz Personal, and Nadia Côté, MD of Allianz Commercial, reflect on what it’s like being one big family following the LV rebrand, rebuilding the Eiffel Tower sustainably on their stand and taking stock when the dust settles.
Bryson outlines one product, one platform, one rating ambition for RSA/NIG
Sonya Bryson, commercial lines managing director at RSA, has promised the insurer will not get lost being too inward looking as the integration with NIG proceeds, focusing instead on delivering for brokers as it seeks number one spot in the market.
Bspoke launches new division with fee protection product
Bspoke Group has rolled out a fee protection insurance product for the UK accountancy industry as it launched a new division, Bspoke Fee Protection, with Kevin Igoe recruited as managing director.
Arag posts 60% profit leap in run-up to Das UK integration
Legal expenses insurer Arag grew profit and turnover in 2023 as it readied itself for the takeover of Das UK.
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG