Lloyd’s improves underwriting result but investment dip trims H1 profit
Lloyd’s cut its combined ratio to 90.8% in the first half of the year as gross written premium rose against a backdrop of market softening.
The marketplace’s performance improved from 92.5% in the same period of 2025.
It noted the major claims ratio improved to 6.8% (H1 2025: 10.4%) reflecting a comparatively lower level of catastrophe losses in the first half of the year.
The underwriting result was up by £400m year-on-year to £1.9bn.
FallHowever, a fall in investment returns hit the bottom line.
Investment returns almost halved – from £3.2bn to £1.8bn – in the comparable periods.
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