Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017
Lloyd’s H1 profits shrink despite improved underwriting margins
- 3 October 2017
Lloyd's posted a better combined ratio for the first half of 2017 than for the prior-year period, but this wasn't enough to prevent a drop in pre-tax profits.
Click to enlarge Pre-tax profits fell by 16.8 percent to £1.2bn ($1.6bn) from £1.5bn in the first half of last year, mostly due to a negative foreign exchange impact of £329mn.
The result translated into an annualised H1 return on capital of 8.9 percent, Lloyd's lowest since at least 2012 and 2.8...
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