Lloyd’s posts underwriting and pre-tax profit for 2021
The marketplace swung back to £2.3bn profit after a loss of £900m in 2020.
Lloyd’s has reported a pre-tax profit of £2.3bn and a combined operating ratio of 93.5% for 2021 defining the figures as its best quality result for six years.
It marked a turnaround for the marketplace which made a loss of £900m in 2020 when the COR stood at 110.3%.
The underwriting profit of £1.7bn reversed a loss of £2.7bn the year before. And the positive pre-tax numbers came despite net investment income dropping year-on-year to £900m from £2.3bn.
Gross written premiums were up 10.4%
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