Lloyd’s market make a pre-tax profit of £1.67 billion

In the first six months of 2014, the Lloyd’s market made a pre-tax profit of £1.67 billion, recorded a Combined Ratio of 88.2% and a return on capital of 16.5%.

This is an excellent set of results given the challenging market conditions.

The upgrade to our financial rating by Fitch in June, from A+ to AA- (Very Strong), recognised the strength of the market, and we remain on positive outlook with S&P and AM Best: our strongest ever position.

In this climate, market oversight naturally remains our priority, and we must also continue to make progress with our preparations for the implementation of Solvency II. However, these results put the market in a great position to continue to expand in both established and high-growth economies around the world.

Full details can be found at Lloyds.com