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Lloyd’s Posts Biggest Profit in Four Years as Disaster Claims Fall

Lloyds of London, the worlds oldest insurance market, reported its biggest annual profit in four years as natural catastrophe claims declined.

By Sarah Jones, Bloomberg | Updated on March 26, 2014

(Bloomberg) — Lloyd’s of London, the world’s oldest insurance market, reported its biggest annual profit in four years as natural catastrophe claims declined.

Pretax profit increased to 3.2 billion ($5.3 billion) in 2013 from 2.8 billion pounds the previous year, the London-based market said in a statement today. Lloyd’s paid out 86.8 pence in claims and operating expenses for every pound it took in in premiums, compared with 91.1 pence in 2012.

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