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flag Lloyd's reports £9.6 billion profit in 2024, down due to increased catastrophe claims.

flag Lloyd's, the leading re/insurance market, reported a 2024 profit before tax of £9.6 billion, down from £10.7 billion in 2023, due to higher claims from large-scale catastrophes. flag Gross written premiums rose to £55.5 billion, up 6.5%, and the combined ratio increased to 86.9%. flag Despite a decrease in underwriting result to £5.3 billion, Lloyd's maintained a stable expense ratio of 34.4% and financial strength ratings at AA- or equivalent, their highest levels.

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