Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.
This is down from 85.2% in the same period in 2023.
The marketplace for insurance and reinsurance saw its gross written premiums increase by 6.5% to £30.6bn (HY 2023: 29.3bn), excluding foreign exchange movements (2.1%). Lloyd’s noted the rise was driven by volume growth of 5.0% and price increases of 1.5%.
Lloyd’s profit before tax rose by £1bn to £4.9bn compared to the HY prior.
It further saw a £0.6bn increase in underwriting profit to £3.1bn in HY 2024.
The Lloyd’s results come a month after AM
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