Lloyd’s has reported an underwriting profit of £3.5bn for H1 2023. This was up from the £1.2bn recorded for the same period last year. It announced profit before tax of £3.9bn (2022: loss of £1.8bn) and a combined ratio of 85.2% (2022:91.4%).

John Neal (pictured), CEO of Lloyd’s, said: “We’re pleased to be reporting a very strong set of results for the year so far – with profitability in both our underwriting and investments; a leading combined ratio, strong premium growth and a bulletproof balance sheet that means we can support customers through a range of shocks and scenarios.

“Combined with the market’s progress in driving sustainable performance, digitalisation and showing leadership from climate transition to culture change – these results set us up to deliver on our positive financial outlook for 2023.”

Share Story: