Lloyd’s Sees Profits Drop By Nearly Fifity Percent
Today Lloyd's of London reported that its insurance market's profit dropped 47 percent in the first half on falling investment income and increased cost of claim.
The world's oldest and biggest insurance market reported pretax profits in the six months to June 30 of 949 million pounds ($1.76 billion) compared with 1.81 billion pounds in the previous year.
Lloyd's said central assets reached 1.94 billion pounds.
"The market remains in a good position to face the challenges ahead even though the external conditions in which we operate are about to test our structure and resolve," said Lloyd's Chief Executive Richard Ward in a statement.
Published on September 25, 2008
Are you retail Agent Looking for a Quote?