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In 2011, Lloyd’s reported a loss before tax of £516m (2010: profit £2,195m) and a combined ratio of 106.8% (2010: 93.3%). These figures reflect an exceptional year for catastrophes including the floods in Australia, New Zealand earthquake, earthquake and tsunami in Japan, tornadoes in the US and flooding in Thailand.
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2011 also saw a challenging investment environment. Lloyd’s reported a total investment return of £955m (2010: £1,258m).
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Lloyd's reports that central assets were maintained at record levels of £2,388m (2010: £2,377m).
Financial security is crucial. It gives confidence to capital providers and peace of mind to policyholders. Lloyd’s strength and robust capitalisation is reflected in our ratings. In 2011, all three rating agencies affirmed Lloyd’s ratings, reinforcing our resilience and the financial strength of the market. The Lloyd’s financial strength ratings apply to every policy issued by every syndicate at Lloyd’s since 1993.
Lloyd's ratings
