Lloyd's profits drop by over 50%

lloyd's

In a statement Lloyd's said the result reflected a period of significant claims and extremely challenging investment conditions. It added that the positive investment return of £597m was due to a conservative investment mix during a period of continuing volatility in financial markets, and central assets are at a record high.

Lloyd's chairman, Lord Levene, said: "The first six months of 2010 were the costliest on record since we began interim reporting, testing not only Lloyd's but insurers

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