Lloyd’s swings back to half-year profit
Lloyd’s has announced a profit of £1.53bn for the first six months of the year, reversing a loss of £697m in the same period of 2011.
The specialist insurance market highlighted that the result followed a benign period for natural catastrophes for the insurance industry and no major claims.
It produced a combined ratio of 88.7% down from 113.3% in the first half of 2011.
Lloyd's incurred total net claims of £4.58bn in the six months, a fall of nearly a third on the £6.7bn the market experienced in the first half of 2011.
Despite the on-going low interest rates, Lloyd's investment return rose 13% to £619m (H1 2011: £548m).
Lloy
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