Lloyd's announces record profit of £3.9bn for 2009
Lloyd's has reported a record £3.9bn profit for 2009, compare to £1.9bn the previous year.
Lord Levene, chairman of Lloyd's, said the result has been achieved "despite the economic turbulance that characterised most of 2009" and that although it was helped by a low level of catastrophe related losses the market could be proud of what it had achieved.
Lloyd's said its combined ratio of 86.1% (2008: 91.3%) "compares favourably with an estimated average of 100% for US property and casualty insurers, 94% for US reinsurers, 99% for European insurers and reinsurers and, 84% for Bermudian
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