Lloyd’s teases FY23 results by revealing £5.9bn underwriting profit
Lloyd’s has provided a trading update on its 2023 full-year financial performance.
It has outlined that gross written premium increased by 11.6% to £52.1bn (FY 2022: £46.7bn) reflecting 4% organic growth and 7% change.
The market’s combined ratio improved 7.9 percentage points from the prior year to 84.0% (FY 2022: 91.9%) and underwriting profit increased £3.3bn to £5.9bn (FY 2022: £2.6bn).
Lloyd’s added its attritional loss ratio remained stable at 48.3% (FY 2022: 48.4%), while the expense ratio remained flat at 34.4%.
Outstanding yearBurkhard Keese, Lloyd’s CFO, said: “2023 was
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 Commercial
Alan Boswell buys Suffolk broker
Alan Boswell Group has bought commercial insurance broker Andrew Thompson and Associates in its first deal of the year after two purchases in 2024.
Biba 2025 Countdown: Markel’s Jo Sykes
Jo Sykes, divisional director, broker & ATE UK at Markel, promises a partnership with an Olympic champion; expects to see another uptick in attendance at its annual hospitality event; and looks forward to putting her sore feet up and checking the iPad for action points at the end of it all.
Axa warns brokers on criminal gangs targeting vacant commercial properties
Axa UK has urged brokers to make sure customers are vigilant about criminal gangs targeting empty commercial properties as the insurer has seen a steep rise in the problem in recent months.
A-Plan details £3.6m rebrand spend as turnover ticks up but profits dip in 2024
A-Plan, now rebranded as Howden, grew turnover by 2.1% to £167.3m in the year ended 30 September 2024 as investments in staff, rebrand costs and IT spend hit the bottom line.
Markel to buy London-headquartered marine MGA
Markel has inked a deal to buy specialist marine managing general agent The MECO Group.
Radius Insurance MD sees “huge” opportunity to put “foot on the gas”
Philip Thorn, Radius Insurance Solutions managing director, is eyeing up the opportunities from being a true risk advisor and broker, as he highlights possibilities to lean into the wider group’s customer base.
Biba 2025 Countdown: Commercial Express’ Duncan Pritchard
In a month’s time it will be day two of the 2025 British Insurance Brokers’ Association Conference. As part of Insurance Age's countdown to the event Duncan Pritchard, managing director of Commercial Express, shares his insights.
Biba 2025 Countdown: QBE’s Stacey Flannery
With only one month to go until the Biba 2025 conference, Stacey Flannery, head of trading (Manchester) at QBE, kicks off Insurance Age’s countdown series.