Insurer records £1.4bn in first-half profits after settling £9.4bn in claims
Lloyd’s, the world’s biggest insurance market, has moved back into profit as a stronger underwriting performance helped it bounce back from last year’s Covid-19 losses, and announced an imminent target for minority ethnic representation across the market.
Lloyd’s made a pre-tax profit of £1.4bn in the first six months of the year compared with a £438m loss a year earlier. It paid out £2.2bn for Covid-19 losses, slightly less than £2.4bn in the first half of last year. For customers affected by the pandemic, 80% of claims filed have been paid so far.
