Magazine date:
Mar 2018 At the end of 2017, Lloyd's recorded a pre-tax loss of 2.3 billion EUR (2.76 billion USD) compared with a pre-tax profit of 2.5 billion EUR (2.6 billion USD) in 2016.
This is the first loss posted by the London group in ten years. This decline is attributable to the increase in the claims experience recorded in 2017. Lloyd's suffered, during the last financial year, 5.1 billion EUR (6.1 billion USD) of losses related to natural disasters, more than double the 2016 losses.
Turnover, however, is up 5% from 36.4 billion EUR (38.36 billion USD) in 2016 to 38.3 billion EUR (45.88 billion USD) a year later. The combined ratio deteriorated by 16.1 points to 114%.
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