For the first six months of 2018, Lloyd’s reported a combined ratio, a measure of underwriting profitability, of 95.5 percent by 96.9 percent a year earlier. A number below 100 percent indicates a profit.
The marketplace also reported an improvement in its underwriting result to 500 million pounds inside the first half, by 400 million pounds a year earlier.
“We have also worked tirelessly to secure the Lloyd’s market’s access to the EU27 along with our Lloyd’s Brussels subsidiary will start writing business inside the European Economic Area by 1 January 2019,” Chief Executive, Inga Beale, said, referring to its plans to service European Union clients after Britain leaves the European Union.
The market’s Brussels subsidiary can be due to start operating by January 2019.