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Lloyd's returns to profit in first half of 2021

Lloyds
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Market reveals a profit of £1.4bn as well as an improved COR of 92.2% as gross written premiums also increase.

Lloyd’s has reported an aggregated pre-tax profit of £1.4bn for the first half of 2021, up from a pre-tax loss of £0.4bn in the first six months of 2020.

It stated that this had been driven by a “substantially improved” underwriting result of £1bn (H1 2020: loss of £1.3bn).

In addition, gross written premiums (GWP) increased to £20.5bn (H1 2020: £20.0bn). The market noted that this was due to an increase in premium rates, high customer retention and new growth for the first time in four years

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