Lloyd's of London: result impacted by the war in Ukraine

In the first half of 2022, Lloyd's of London reported a turnover of 24 billion GBP (29.2 billion USD), up 17% over one year.

The underwriting result grew by 25% to 1.2 billion GBP (1.5 billion USD) as at 30 June 2022. The combined ratio gained 0.8 points to 91.4% which is is the lowest recorded since 2015.

Yet, the British group posted a half-year loss of 1.8 billion GBP (2.2 billion USD) against a pre-tax profit of 1.4 billion GBP (1.9 billion USD) during the first half of 2021.

This significant drop is mainly due to a financial loss of 3.1 billion GBP (3.8 billion GBP) and to the 1.1 billion GBP (1.3 billion USD) reserve set aside for the war in Ukraine.