Lloyd’s first half profits fall again
Market reports £600m pre-tax result.
Lloyd’s has revealed reduced profits of £600m for the first six months of 2018 but an improved combined operating ratio of 95.5% (H1 2017: 96.9%).
The pre-tax profits were down on the £1.2bn achieved at the start of 2017, a year where it ultimately plummeted to a loss of £2bn.
The 2018 half-year pre-tax profits were also down on 2016 when it achieved £1.46bn.
Underwriting
The insurance market noted that the 2018 figures were hit by a lower investment return of £200m. For the same period of
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