24 Sep 2018
The Lloyd’s market returned to profit in the first six months of 2018 following a year of underwriting losses in 2017. The aggregated market profit was £0.6bn (June 2017: £1.2bn), with a comparatively low investment return of £0.2bn (June 2017: £1.0bn). The combined ratio improved to 95.5% (June 2017: 96.9%), supported by a benign loss period and prior year reserve releases.
Net resources reached £29.0bn (June 2017: £28.0bn) which means Lloyd’s capital position is stronger than it has ever been. Our excellent financial strength ratings have been recently reaffirmed at A (Excellent) from A.M. Best, A+ (Strong) from Standard & Poor’s, and AA- (very Strong) from Fitch.
We continue to focus on improving the Lloyd’s market’s long term performance by taking positive action to address areas that are underperforming. While there has been an improvement in the underwriting result of up to £0.5bn from £0.4bn last year, Lloyd’s is focused on the future, and throughout 2018 our key priorities will continue to be improving underwriting performance, reducing expenses, and enhancing access to Lloyd’s through technology – supporting our digital evolution.
If you would like to talk through any of the Ambris products we’d be delighted to discuss it with you. Use the form below or call us on +44 (0) 20 3773 2345.
Automobile physical damage
Commercial General Liability