Insurance Capital Markets Research (ICMR) and the Lloyd’s Market Association (LMA) have released their 2nd annual report, the Lloyd’s 2025 Insights Report, providing a detailed analysis of Lloyd’s and syndicates’ 31/12/2024 year end results. The report reveals that Lloyd’s continues to deliver highly favourable returns to investors, with profits just shy of the previous year’s record, driven by favourable trading conditions and a return to more normal investment valuations. Despite major claims activity in 2024, including two US hurricanes, almost all individual syndicates reported an underwriting profit.