Lloyd's returns to profit with best combined ratio in five years

Luke Savage

A benign catastrophe period helped return Lloyd's to profit in the first half of 2012 with a combined ratio of 88.7% compared with 113.3% in the same period last year.

Lloyd's reported a £1.53bn profit compared with a £697m loss a year earlier, while gross written premium crept up to £14.8bn (H1 2011: £13.5bn).

Luke Savage, Lloyd's director of finance, risk

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