2011 major losses equal quarter of its net premiums for Lloyd’s

Major industry losses borne by the Lloyd’s Market last year accounted for 25.5 percent of its net premium earned, according to a new report by Aon Benfield.

The report also found that Lloyd’s share of total losses for the year stood at 6.4 percent in 2011, higher than the average of 3.9 percent over the last 15 years. This was due to losses generally being concentrated in areas where Lloyd's is represented.

Gross written premiums rose to £23.5 billion, although the major losses and poor investment performance meant that Lloyd’s reported a pre-tax loss of £516 million.