Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018
Cat events send 80% of Lloyd’s syndicates into the red
- 3 April 2018
Some 83 percent of Lloyd's syndicates reported an underwriting loss for 2017, as the year's elevated cats and underlying loss inflation pushed carriers into the red.
The proportion of Lloyd's syndicates reporting an underwriting loss was approximately a third higher than in 2016, when just 49.5 percent reported a combined ratio of more than 100 percent.
Lloyd's said it had incurred roughly £4.5bn ($6.3bn) in net claims from major catastrophes last year, which would translate into 17 points on the...
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