Further losses at Lloyd's in 2018
Market reveals a loss of £1.0bn and a COR of 104.5% for 2018 as CEO John Neal admits "performance is not of the standard we would expect".
Lloyd’s has reported a loss of £1.0bn for 2018, following on from a loss of £2.0bn in the preceding year.
The corporation said the loss followed a “volatile investment environment” and an expensive year for natural catastrophes where major claims cost the Lloyd’s market £2.9bn.
In addition, net investment returns declined to £0.5bn, compared to £1.8bn in 2017.
However, the market’s combined operating ratio improved to 104.5% (2017: 114.0%) and gross written premiums ticked up to £35.5bn in
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
First fall in car premiums for over two years
Comprehensive car insurance premiums fell by 5% in the first three months of 2024 after nine consecutive quarters of rises, according to the latest research from Confused/WTW.
FCA’s Brewis warns MPs premium finance action could have ‘waterbed effect’ for consumers
The Financial Conduct Authority’s insurance director Matt Brewis has raised the concern that taking action on premium finance would have little or no impact on the price of motor cover.
Allianz appoints Ktenidis director of digital trading & ALP as Bryant leaves
Allianz Commercial has named Alex Ktenidis as director of digital trading and Allianz Legal Protection effective immediately, succeeding Helen Bryant.
Three quarters of brokers still concerned about underinsured clients, claims Aviva
According to Aviva’s latest Broker Barometer survey, 73% of brokers are concerned that some of their clients may be underinsured as just 24% of brokers’ clients had increased their sums insured to an adequate level.
Broking profits fall at Saga
Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.
Macquarie MGA granted Lloyd’s coverholder status
Macquarie Insurance Facility is to expand its insurance capabilities following approval as a Lloyd’s coverholder.
RSA posts 2023 loss as underwriting result improves
RSA has reported a loss after tax of £89m driven in part by integration costs as the underwriting performance improved year on year.
US fronter Hadron set to onboard first UK MGA in Q2
Altamont-backed hybrid insurer Hadron is aiming to change the reputation of fronters to businesses that priortise sensible and measured underwriting rather than just scale.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop