“We have implemented stronger performance management measures which will remain an enduring featuring of how we go about our business,” Lloyd's CEO John Neal said in a press release. (Photo: The Associated Press/Alastair Grant)
Despite investment uncertainty and a year riddled with costly natural catastrophes, Lloyd's reported an aggregated market loss of $1.3 billion in 2018, close to half the aggregated market loss in 2017.
Hurricanes Florence and Michael, Typhoon Jebi in Japan and wildfires in California led to major claims, costing Lloyd's market $3.9 billion, which contributed to a combined ratio of 104.5% in 2018. Despite this, its total assets grew by 9% to $149.9 billion, its net resources increased by 2% to $35.8 billion and its central assets also saw growth of 8% to $4.1 billion.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
