Results
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The market remains concerned about managing the pricing slowdown, but a “super cycle” continues. -
The executive said that the market was in a protracted period of stable underwriting and capital.
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Overall, Lloyd’s H1 market underwriting profit came to £3.1bn, as the CoR improved by 1.5 points to 83.7%.
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The CFO said defending profitability is the Corporation’s “utmost goal”.
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GWP was up 6.5% to £30.6bn, a notable slowdown from the 21.9% growth posted in the same period a year ago.
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The GWP total marked an 18% year-over-year increase from $145bn in 2022.
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Plus the latest people moves and all the top news of the week.
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The carrier’s profit fell 22.2% year on year during the six-month period.
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The syndicate posted GWP of $317mn for the first half of the year.
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Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
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Return on capital employed hit 13% last year as the cost of capital fell to 8%.
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