Profit at Lloyd’s hits £3.2bn
Record GWP in a benign year for catastrophe claims.
Lloyd's has announced a profit of £3.2bn for 2013, up from the £2.8bn achieved in 2012.
Gross written premium income at the specialist insurance and reinsurance market increased to a record £26.1bn while its combined operating ratio improved markedly to 86.8% (2012: 91.1%). The pre-tax return on capital delivered in the year was 16.2%.
Catastrophes
In its results statement Lloyd's noted that 2013 was a "benign year for insured catastrophes". Major claims to Lloyd's in the 12 months came in at
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