Lloyd’s heading for tough times as catastrophe losses hit profits
Lloyd’s first half-year results will be adversely affected by this year’s “unprecedented” level of catastrophes and could see its combined operating ratio hit 100% for the first time in six years, according to market observers.
It could also lead to a fall in prices paid at the syndicates’ capacity auction later this year. Lloyd’s is due to release its H1 2011 results on 21 September. Professional services firm Ernst & Young
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