Further losses at Lloyd's in 2018
Market reveals a loss of £1.0bn and a COR of 104.5% for 2018 as CEO John Neal admits "performance is not of the standard we would expect".
Lloyd’s has reported a loss of £1.0bn for 2018, following on from a loss of £2.0bn in the preceding year.
The corporation said the loss followed a “volatile investment environment” and an expensive year for natural catastrophes where major claims cost the Lloyd’s market £2.9bn.
In addition, net investment returns declined to £0.5bn, compared to £1.8bn in 2017.
However, the market’s combined operating ratio improved to 104.5% (2017: 114.0%) and gross written premiums ticked up to £35.5bn in
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