Lloyd’s posts £1.8bn half-year loss
Lloyd's has posted a loss of £1.8bn for the first half of 2022 compared to a profit of £1.4bn in the same period last year.
According to the marketplace the £3.2bn swing to deficit was driven by a net investment loss of £3.1bn.
However, Lloyd’s stated that as investment maturities are short dated, the market will begin to benefit from higher interest rates in 2023 resulting in improved investment returns.
Lloyd’s also reported an underwriting profit of £1.2bn for the six months, a £240m increase since its 2021 half year results.
The combined operating ratio improved to 91.4% (HY 2021: 92.2%) its strongest COR
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