Despite a softer-than-usual catastrophe year, Lloyd's has reported a slight decline in profit in the first half of 2013 against a background of low investment yields.
Lloyd's reported 1.39 billion pounds ($2.1 billion) in income in the first six months of 2013, a 5.4 percent drop from 1.47 billion pounds ($2.4 billion) in profit last year.
“Apart from the lack of major natural catastrophe claims in the first half, the most notable feature of these results is the fall in investment income returns from 1.2 percent to 0.5 percent for the first six months of the year,” says John Nelson, Lloyd's chairman, in a statement. “This is not unique to Lloyd's. All large investors—including major insurers—have found it hard to secure meaningful returns in the continuing low interest rate environment.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
