Lloyd's On 3-Year Profit Streak
A third straight year of profits for Lloyd's was marred by sharp catastrophe losses in 2004, according to a report put out by Benfield Ltd.
The London-based insurance brokerage said the three-year improving results were a positive sign, but that last year's catastrophe losses of ?1.3 billion ($2.3 billion) made 2003 the peak profitability year in which ?1.89 billion ($3.3 billion) was posted.
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