Lloyd's motor result reflects 'torrid' time
Lloyd's finance director Luke Savage has said Lloyd's 2010 UK motor insurance result reflects the "torrid" experience of the whole market within that class of business. Its motor book reported an underwriting loss of £520m (2009: £83m loss) and a combined ratio of 151.5% (2009: 108.4%).
He welcomed the government's endorsement of Lord Justice Jackson's recommendations to tackle personal injury costs but added that, at 6% of Lloyd's overall premium, motor accounts for a small portion
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