Lloyd's of London reported a profit increase of 39 percent for the first six months of this year, but warned that the ongoing effects of the recession and uncertainty over natural catastrophes could still adversely affect year-end results.
The syndicated market reported profits before tax rose by ?373 million (coming to $615 million, at current exchange rates) to ?1.32 billion ($2.18 billion), compared to ?949 million ($1.57 billion) for the same period last year.
The combined ratio rose 2.6 points to 91.6 for the period, which Lloyd's said compares well to its peers in the United States, Bermuda and Europe.
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