Lloyd's wrote £448bn of gross premiums since 2000, incurring gross claims to policyholders of £288bn, delivering a net combined ratio of 98% and generating £20bn for its investors. What happened?
Maintaining performance is one thing, improving performance is a lot more challenging
Only top quartile and very few second quartile performers achieved underwriting profits in 2019.
Materials from the cancelled joint LMA event 18 March 2020
You don't have to be big to be successful, but you can get big if you are successful.
In 2019 there were 110 syndicates, including special purpose arrangements (SPA), of which 105 stated positive GWP, with 56 breaking even or generating a profit.
Today Lloyd's released the 2019 pro-forma results for the market stating a profit of £2.5bn. This is a huge improvement to last year's loss of £1bn, but is driven by investment income of £3.5bn
Introducing the Lime Street Value Creation Index