Lloyd’s pre-tax profit flat at £2.1bn in 2016

The Lloyds building in London

Lloyd’s has reported pre-tax profit of £2.1bn, identical to the figure achieved in 2015. The specialist market revealed that its combined operating ratio had worsened to 97.9% for the 12 months from 90.0% the year before. However gross written premium ticked up by 12% to £29.9bn (2015: £26.7bn). Lloyd’s highlighted that conditions over the course of the year were “extremely challenging” and flagged that there was continued downwards pressure on pricing. Major claims However it added that tra