Lloyd's, in reporting a 20.6 percent first half profit increase today, said despite recent hurricane losses if no further catastrophes occur, it should make a profit for the full year as well.
Storm losses have already increased rates in some lines and should halt rate softening in others, according to a Lloyd's market statement of results, which did not specify the sectors referred to.
The insurance market said for the six months, profits were ? 1.38 billion ($2.47 billion) compared with ?1.14 ($2.03 billion) for the first half of 2004.
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