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At a glance

Lloyd’s has reported a pre-tax loss of £0.9bn, driven by £3.4bn net incurred COVID-19 losses adding 13.3% to the market’s combined ratio of 110.3%. Excluding COVID-19 claims, the market’s combined ratio has shown substantial improvement at 97.0% excluding COVID-19 losses – a 7.5% improvement when compared to 2018 (104.5%), demonstrating the positive impact of Lloyd’s sustained performance improvement measures.