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Lloyd's Firms' Profits Up as Disaster Losses Shrink

Posted on 04 Feb 2013 by Neilson

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Lloyd'sTwo Lloyd's of London insurers will this week reveal a surge in profits, helped in part by their investment returns amid rising equity markets.

Catlin and Beazley will both reveal full-year results expected to contain sharp drops in catastrophe claims.

Insurance broker Aon said last week that global insured catastrophe losses in 2012 would end up at $72 billion (46 billion pounds) - higher than the long-term average, but down sharply on 2011's losses of $133 billion.

Analysts at investment bank Nomura said: 'We are also looking for a small positive development in investment returns in the fourth quarter of 2012, given a good finish for equity markets.' Beazley is expected to post 204 million pounds in profits, up from 63 million pounds in 2011, while Catlin's should hit 375 million pounds, up from 71 million pounds last year.