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Lloyd's Interim Profits Down Over 50%; Ward Calls For Greater Underwriting Focus

Lloyd's reported a 52.4 percent decrease in 2010 first-half profit compared to last year, attributing the decrease to high catastrophe losses.

By Caroline McDonald | Updated on September 27, 2010

NU Online News Service Sept. 28, 3:45 p.m. EDT

Lloyd’s reported a 52.4 percent decrease in 2010 first-half profit compared to last year, attributing the decrease to high catastrophe losses.

Lloyd’s said its 2010 first-half profit before tax was ?628 million ($942 million at current exchange rate).

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