NU Online News Service, Oct. 21, 3:56 p.m. EDT
Claims arising from the U.S. subprime loan and banking crisis continue to mount, but are said to remain manageable at market level for Lloyd's, according to an Aon Benfield report.
Although underlying loss activity is increasing, partly as a result of the economic downturn, so far there has not been a marked acceleration in claim trends, the report states.
Lloyd's first half pre-tax profit totaled ?628 million ($987.7 million at current exchange rate)--a decrease of ?694 million ($1.09 billion) from the prior year period--while gross premiums written remained virtually unchanged over first half 2009, totaling ?13.5 billion ($21.2 billion).
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