Half year profits rise at Lloyd’s
Insurance market reports increase in GWP but combined operating ratio slips.
Lloyd's has reported a pre-tax profit of £1.46bn for the first half of 2016, up 21.7% from the £1.2bn achieved in the same period last year.
Gross written premiums at the insurance market jumped by 5.2% to £16.31bn.
However, the combined operating ratio deteriorated to 98% from 89.5% at the start of 2015.
Lloyd's list that 2016 has seen major claims increase primarily due to the Fort McMurray fires in Alberta, Canada.
Highly competitive
Chief executive at Lloyd's, Inga Beale, said: "These results
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