News
Lloyd's posts £3.9 billion profit
24 March 2010
Lloyd’s has announced a record profit before tax of £3,868 million for 2009 (2008: £1,899 million) and a combined ratio of 86.1 per cent (2008: 91.3 per cent). Central assets were £2,084 million (2008: £2,072 million), while investment return was £1,769 million (2008: £957 million).
Chairman of Lloyd's, Lord Levene, says: ‘The hard work and very careful attention to risk in the Lloyd’s market have resulted in a pre-tax profit of £3.9 billion, the highest that we have ever recorded. The result has been achieved despite the economic turbulence that characterised most of 2009, although we were certainly helped by a low level of catastrophe related losses – helped by a benign Atlantic hurricane season. The market can be proud of what it has achieved in 2009.’
Lloyd’s 2009 Annual Report can be found at www.lloyds.com/2009annualreport
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