The recovery plan implemented by the Lloyd's [4] of London reported good results in 2019.
Gross written premiums reached 35.9 billion GBP (44.159 billion USD) in 2019: a slight increase compared to the 35.5 billion GBP (45.050 billion USD) recorded in 2018. With 102.1% in 2019, the combined ratio improved by 2.4 points against 104.5% in 2018
The profit before tax recorded 2.5 billion GBP (3.075 billion USD) in 2019 compared to a pre-tax loss of 1 billion GBP (1.3 billion USD) by the end of 2018. Due to the recent financial instabilities, the Lloyd's is revising downwards its 2020 growth forecasts.
In fact, the market is likely to be heavily impacted in terms of premiums and solvency margin. The latter decreased from 238% at the end of 2019 to 205% in mid-March, 2020.
Read also | Lloyd's market [5]