Lloyd’s confirms £2.6bn underwriting profit and targets £56bn GWP in 2023
Lloyd’s has delivered a £2.6bn underwriting profit for 2022, up from £1.7bn the year before.
The marketplace had confirmed a combined operating ratio of 91.9% for 2022 in a trading update earlier this month.
It had also detailed a 19% year-on-year hike in gross written premium to £46.7bn.
However, as previously reported, mark-to-market accounting rules on fixed income investments drove an investment loss of £3.1bn, resulting in an overall loss of £800m before tax. In 2021 it made a pre-tax profit of £2.3bn.
StrongJohn Neal, CEO of Lloyd’s, pictured, said: “This is an outstanding
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