Lloyd's to benefit from hardening rates as it continues to take action on underperforming business

John Neal

Lloyd’s CEO John Neal has stated that the market is “well positioned for a strong rebound and return to underwriting profit” in 2021, after it posted a loss of £887m for 2020.

In its financial results, Lloyd’s noted that customer pay-outs in relation to the pandemic are forecasted to reach £6.2bn on a gross basis.

According to Neal, two thirds of the claims that have so far been reported to Lloyd’s have been paid out.

Business interruption
On a call with the media on 31 March, the CEO

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