Lloyd's reveals soaring profit for H1 2019

The Lloyds building in London

Lloyd’s has posted a pre-tax profit of £2.3bn for the first six months of 2019, up on the £600m achieved at the start of 2018.

Meanwhile, its combined operating ratio deteriorated to 98.8% for the half-year (H1 2018: 95.5%).

Gross written premium (GWP) saw a slight uptick to £19.7bn over this period, compared to £19.3bn in H1 2018.

However, the insurance market explained that the elimination of foreign exchange rate movements and growth from new syndicates pointed to a like-for-like year-on

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