Lloyd’s teases FY23 results by revealing £5.9bn underwriting profit
Lloyd’s has provided a trading update on its 2023 full-year financial performance.
It has outlined that gross written premium increased by 11.6% to £52.1bn (FY 2022: £46.7bn) reflecting 4% organic growth and 7% change.
The market’s combined ratio improved 7.9 percentage points from the prior year to 84.0% (FY 2022: 91.9%) and underwriting profit increased £3.3bn to £5.9bn (FY 2022: £2.6bn).
Lloyd’s added its attritional loss ratio remained stable at 48.3% (FY 2022: 48.4%), while the expense ratio remained flat at 34.4%.
Outstanding yearBurkhard Keese, Lloyd’s CFO, said: “2023 was
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