Lloyd's says its 2012 half-year net income more than doubled compared to last year because of benign catastrophe activity, but the insurance market warned that loss events in the second half of the year could still weigh on year-end results.
"I am highly conscious that I am writing this during the Atlantic windstorm season," says John Nelson, chairman, in a statement. "Nevertheless, this is our most profitable first six months in five years."
In a report released today, Lloyd's says net income rose from £697 million (U.S. $1.12 billion) in 2011's first half to £1.53 billion ($2.4 billion) this year.
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