Lloyd’s hits record highs as UW profit more than doubles, strong rates ahead

Lloyd’s underwriting profit more than doubled and combined ratio improved 7.9 percentage points in what its CFO Burkhard Keese hailed as an “outstanding” year where the market capitalised on the continued hard market and favourable major loss experiences throughout the year. S&P anticipates that Lloyd’s will sustain its reserve margin, despite general inflationary pressures on casualty reserves.