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Lloyd's Profits Up From 2006

Luke Savage, director, finance, risk management and operations in London, told National Underwriter that the favorable results were a combination of limited catastrophes, strong underwriting, high res

By Caroline McDonald | Updated on April 03, 2008

Lloyd’s today announced a 2007 profit of ?3.8 billion ($7.52 billion), up from ?3.66 billion ($7.24 billion) in 2006, despite softening market conditions.

Luke Savage, director, finance, risk management and operations in London, told National Underwriter that the favorable results were a combination of limited catastrophes, strong underwriting, high reserves in 2004, 2005 and 2006, and solid investment income.

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