Lloyd’s COR creeps up to 90%
Lloyd’s notes falling profit of £2.1bn but says performance is "robust".
Pre-tax profits at Lloyd's have fallen to £2.1bn for 2015 (2014: £3bn) as its combined operating ratio (COR) deteriorated almost two points to 90.0% from 88.4% in 2014.
The organisation also saw investment return slip to £400m from £1bn the previous year.
Return on capital also fell to 9% from 14.1%.
Speaking about the results, Lloyd's chairman, John Nelson, said: "The Lloyd's market has shown its ingenuity and excellence once again, which is reflected by healthy profits in the midst of a
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