NU Online News Service, Oct. 26, 3:19 p.m. EDT
Improved conditions in the investment markets and the arrival of new capacity have significantly increased the capital position of Lloyd's of London during the first half of 2009, according to a report released today by Aon Benfield.
The new study, "Lloyd's Update--Evolution," reveals that in the six months ending June 30, Lloyd's pro forma capital increased by 13 percent to ?16 billion ($26.12 billion), 30 percent year on year. Meanwhile, gross premiums written increased by 35 percent from first-half 2008 to ?13.5 billion ($22.04 billion). This was largely due to currency movements and firmer pricing in some of the key Lloyd's markets, according to the study.
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