“We have implemented strongerperformance management measures which will remain an enduringfeaturing of how we go about our business,” Lloyd's CEO John Nealsaid in a press release. (Photo: The Associated Press/AlastairGrant)
Despite investment uncertainty and a year riddled with costly naturalcatastrophes, Lloyd's reported an aggregated market loss of$1.3 billion in 2018, close to half the aggregated market loss in2017.
Hurricanes Florence and Michael, Typhoon Jebi in Japanand wildfires in California led to major claims,costing Lloyd's market $3.9 billion, which contributed to acombined ratio of 104.5% in 2018. Despite this, its total assetsgrew by 9% to $149.9 billion, its net resources increased by 2% to$35.8 billion and its central assets alsosaw growth of 8% to $4.1 billion.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 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.
Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
