Lloyd’s sees COR improve as profits slip
Lloyd’s saw its half-year 2013 profits slip to £1.38bn compared to £1.53bn posted for the same period last year.
It came as the specialist insurance market's gross written premium edged up 4.9% to £15.5bn from £14.8bn while its combined ratio improved to 86.9% from 88.7%.
Investment returns fell considerably from £619m for the first six months of 2012 to £247m for the same time this year, a drop which Lloyd's attributed to "challenging economic conditions".
And despite what Lloyd's classed as a "benign" first half of the year for natural catastrophes, total net claims stood at £4.85bn.
Volatility
Chairman
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