“Challenging conditions” cause Lloyd’s profit slip
Pre-tax profits have fallen to £1.22bn for the first six months of 2017 compared to £1.46bn last year.
Lloyd’s has reported falling profits for the first half of 2017 but rising GWP and an improved COR compared to the same period last year.
The interim report for the half year showed profit before tax dropped to £1.22bn from £1.46bn but GWP went up to £18.9bn.
In addition the COR improved to 96.9% from 98.0%.
Lloyd’s chief executive, Inga Beale, said: “These results highlight the continued strength of the Lloyd’s market, but they do reflect the challenging conditions that have shaped the
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