Lloyd’s sets scene for full-year results as COR ticks up to 86.9%
Lloyd’s has unveiled a combined operating ratio of 86.9% for 2024, with gross written premium rising to £55.5bn, in a trading update ahead of its full results later this month.
The COR has worsened from 84% in 2023 due to major claims in the second half of the year, according to the marketplace.
However, the expense ratio remained flat at 34.4%.
Both underwriting and pre-tax profit were down compared with the prior year. Underwriting profit dropped by £600m to £5.3bn.
RelatedLloyd’s reports £10.7bn pre-tax profit for 2023The investment return also dipped, by £400m, to £4.9bn as Lloyd’s reported the portfolio benefited from another year of high interest rates but faced
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