Lloyd’s slumps to £2bn loss for 2017
COR deteriorates markedly to 114% in first loss for six years.
Lloyd’s has plummeted from a £2.1bn pre-tax profit in 2016 to a loss of £2bn in 2017.
The net swing of more than £4bn came as the combined operating ratio worsened to 114% in the past 12 months (2016: 97.9%).
The insurance market flagged that the year was “one of the costliest” for natural catastrophes in the past decade.
In particular it highlighted the frequency and scale of the disasters that struck around the world in the second half of 2017.
Investment
Major claims for the full year
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