Lloyd's to benefit from hardening rates as it continues to take action on underperforming business
CEO John Neal discusses Covid-19 related claims, the continuation of Lloyd's decile ten strategy and the future of the underwriting room.
Lloyd’s CEO John Neal has stated that the market is “well positioned for a strong rebound and return to underwriting profit” in 2021, after it posted a loss of £887m for 2020.
In its financial results, Lloyd’s noted that customer pay-outs in relation to the pandemic are forecasted to reach £6.2bn on a gross basis.
According to Neal, two thirds of the claims that have so far been reported to Lloyd’s have been paid out.
Business interruption
On a call with the media on 31 March, the CEO
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