Lloyd’s reports flat £3.2bn profit for 2014
Market’s GWP dips slightly as COR rises.
Lloyd's has delivered a pre-tax profit of £3.2bn for 2014, exactly the same as the figure achieved in 2013.
The specialist insurance and reinsurance market noted that profit was driven by a relatively benign year for major natural catastrophes, favourable prior year development, and an improved investment return.
Lloyd's achieved £25.3bn of gross written premium for the 12 months, broadly in line with the £25.6bn written the year before.
The combined operating ratio widened slightly to 88.1%
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