Lloyd’s: Poor results in 2017
Tuesday, 05 15 2018, Category: Insurance and Reinsurance, Country: United Kingdom
RBC Capital Markets has reported that Lloyd’s syndicates are under considerable strain, having posted aggregate combined ratios of 114% in 2017, with the worst return on capital since 2001.
RBC analysed 95 Lloyd’s syndicate reports from 2017, finding that just 16% of syndicates by number, or 9% of syndicates by premium, made an underwriting profit over the year.
Combined ratios were also worse year-on-year for 74 syndicates, which RBC attributed to high levels of natural catastrophe losses over the year and the ongoing decline in pricing.