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.
| Gross written premium | (£m) |
| 2016 | 29,862 |
| 2017 | 33,591 |
| 2018 | 35,527 |
| 2019 | 35,905 |
| 2020 | 35,466 |
| Result before tax | (£m) |
| 2016 | 2,107 |
| 2017 | (2,001) |
| 2018 | (1,001) |
| 2019 | 2,532 |
| 2020 | (887) |
| Capital, reserves and subordinated loan notes | (£m) |
| 2016 | 28,597 |
| 2017 | 27,560 |
| 2018 | 28,222 |
| 2019 | 30,638 |
| 2020 | 33,941 |
| Central assets | (£m) |
| 2016 | 2,879 |
| 2017 | 2,981 |
| 2018 | 3,211 |
| 2019 | 3,285 |
| 2020 | 3,308 |
| Return on capital | (%) |
| 2016 | 8.1 |
| 2017 | (7.3) |
| 2018 | (3.7) |
| 2019 | 8.8 |
| 2020 | (2.8) |
| Combined ratio | (%) |
| 2016 | 97.9 |
| 2017 | 114.0 |
| 2018 | 104.5 |
| 2019 | 102.1 |
| 2020 | 110.3 |
US & Canada 53%
Other Americas 6%
UK 12%
Rest of Europe 15%
Central Asia & Asia Pacific 10%
Rest of world 4%
US insurance industry 17.3%
Bermudian insurance industry 14.9%
UK insurance industry 14.6%
Rest of world insurance industry 10.5%
Japan insurance industry 10.2%
European insurance industry 9.6%
Private capital - limited and unlimited 9.2%
Worldwide non-insurance 8.3%
Middle/Far east insurance industry 5.4%