Lloyd’s CEO hails “outstanding financial performance” in 2024
Lloyd’s has confirmed gross written premium of £55.5bn in its 2024 results, up 6.5% from the year before.
Profit before tax slipped by £1.1bn to £9.6bn as the combined operating ratio ticked up year-on-year from 84% to 86.9%.
The insurance and reinsurance marketplace previously trailed the results in a trading update at the start of this month.
GrowthLloyd’s detailed the GWP hike was primarily driven by volume of 8.5%, made up of 7.6% from existing syndicates and 0.9% from new entrants.
It noted price changes including rate and inflation contributed 0.3% while foreign exchange movements trimmed the
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