“Challenging conditions” cause Lloyd’s profit slip

The Lloyd's building

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 secto

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