2023 Lloyd's of London underwriting profit doubles to £5.9bn ($7.52bn) due to commercial insurers reducing risky business and raising premiums.
Lloyd's of London's underwriting profit doubled in 2023 to £5.9bn ($7.52bn), according to an unscheduled trading update. This increase is attributed to commercial insurers reducing risky business and raising premiums, leading to gross written premiums rising by 11.6% to £52.1bn across the commercial insurance market. Lloyd's posted an investment return of £5.3bn, helped by higher interest rates.
March 07, 2024
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