Lloyd's sees GWP and COR deteriorate in first half of 2014
Market noted that UK motor sector remains challenging.
Lloyd’s of London has reported gross written premium of £14.86bn for the first six months of 2014, down from £15.49bn in the same period of last year.
The market saw profit before tax grow from £1.38bn to £1.67bn, however combined ratio worsened, from 86.9% to 88.2%.
Lloyd’s said that conditions in its more specialist UK motor sector “remain challenging”.
It added: “Whilst major legal reforms introduced last year may in time help reduce claim costs, claims frequency remains high in this very
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