Lloyd’s hails underwriting performance as COR drops to 91.9% in 2022
Lloyd’s has labelled its underwriting performance in 2022 as good as any in recent memory with “more than expected” improvement.
The combined operating ratio fell 1.6 percentage points to 91.9% for the year. The marketplace flagged that this was despite major claims of 12.7%, including losses arising from the conflict in Russia and Ukraine, and from hurricane Ian in Florida.
The expense ratio also dropped to 34.4% from 35.5% in 2021. Gross written premium rose year-on-year by over 19% to £46bn.
Today, we are presenting an underwriting performance and capital position as good as Lloyd’s has reported in recent memory
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
W Denis boosts profits in 2024
Top 100 UK broker W Denis grew post-tax profit by 53% to £1.13m in the year ended 30 June 2024.
Das UK brand exits market in Arag integration
Legal expenses insurance provider Arag has completed the integration of the Das UK brand a year on from the deal going through.
Aon completes Griffiths & Armour buy
Global giant Aon completed the takeover of Top 40 UK insurance broker Griffiths & Armour on 1 January.
Business confidence up at start of 2025 but regulatory pressure concerns rise
Financial services leaders are more confident about business growth and profitability in the first quarter than at the same point last year, according to research by KPMG UK as it also found regulatory pressures becoming a top three concern of bosses.
FCA insurance related fines total £1.1m in 2024
The Financial Conduct Authority handed out £1.11m in fines to two general insurance broking individuals in 2024, as firms achieved the second year in a row of zero fines.
BMS completes David Roberts & Partners buy
BMS Group has finalised the acquisition of David Roberts & Partners, after it was announced in earlier this year.
Review of the Year 2024: Woodgate and Clark’s Simon Jones
Simon Jones, client services director at Woodgate & Clark, explains why digital transformation is no longer a differentiator, circularity in property repairs is key to sustainable claims handling and a lack of air travel means Race Across the World is the perfect reality TV show for him.
Aviva-target DLG launches on Compare the Market
Aviva takeover target Direct Line Group has launched three new branded motor insurance products on Compare the Market, marking its entry on to price comparison websites.