Lloyds reports 5% rise in FY profits to £3.85bn
The Lloyd’s of London insurance market reported a 5% rise in full-year pretax profits to £3.85bn, up from £3.66bn in 2006, but also reiterated its managing agents' comments that underwriting conditions are waning.
“Lloyd’s is in good shape to meet the challenges that face us but we cannot expect the strong underwriting conditions and low levels of catastrophes to continue,” said Richard Ward, Lloyd’s chief
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