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Lloyd’s 2010 combined ratio could hit 100%, says AM Best
7 July 2010
Lloyd's may fail to make an underwriting profit in 2010 due to the stinging catastrophe losses in the first half of the year, according to ratings agency AM Best.
In 2009, the Society registered underwriting gains of £2.1bn as a lack of cat events helped it to a profit across all classes of business apart from motor.
Overall, Lloyd's last year notched up pre-tax profits of £3.9bn - a figure also buoyed by the recovery in the capital markets.
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