Lloyd’s of London’s insurance profits rise

The Lloyd’s of London insurance market has reported a profit before tax for the first half of the year of £2.3bn, up from £600m a year earlier.

John Neal, Lloyd’s chief executive, said: “It is encouraging that the Lloyd’s market is showing increased discipline in 2019 as evidenced by a reduction in gross written premiums and an improvement in the attritional loss ratio for the current underwriting year.

However, we recognise the importance of continued focus on performance management to maintain this momentum throughout the rest of 2019 and beyond.”