Lloyd's market: Evolution of results (2013-2018)

As far as Lloyd's is concerned, the premium volume has been stable since 2013 but the net result had significantly shrunk in 2017 and 2018. After several good years, losses have been particularly high in the last two years, -2.7 billion USD in 2017 and -1.3 billion USD in 2018. This net income amounted to 5.3 billion USD in 2013.

Lloyd'sThe loss ratio has particularly deteriorated during the reporting period from 48.6% in 2013 down to 65.4% in 2018. However, with an average of 59.2% over the last five years, Lloyd’s loss ratio has remained well below the 65.8% reported by the four major European groups and the 63.4% of the Bermudan market.

Due to rising loss experience of natural disasters, the ROE of the London market fell sharply to -7.3% in 2017 and -3.7% in 2018 while in 2013 it was set at 16.2%. Within the average five-year period, the ROE of the London market is twice as low as that of the four major reinsurers (4.1% versus 8.2%).

Main indicators of the Lloyd’s: 2013-2018

In billions USD

Indicator2013201420152016201720185-year average
Non life net written premiums
Net earned premiums
Net investment income
Total revenues
Net result
Shareholder’s equity
Loss ratio
Management expenses ratio
Combined ratio %
Return on Equity (ROE ) in %
Return on Revenue (ROR) in %

Source : AM Best

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