LONDON, March 26 The Lloyd's of London
insurance market saw a 14 percent lift to its profits during
2013, a relatively quiet year for natural catastrophes that kept
a cap on big insurance claims.
The market's combined ratio, a measure of profitability
showing how much insurance premium income is paid out in claims
and expenses, stood at 86.8 percent, Lloyd's said in an earnings
statement on Wednesday.
Profit stood at 3.2 billion in 2013, up from 2.8 billion in
2012 following a 'benign' year for insured catastrophes, Lloyd's
Lloyd's financial performance represents the combined
results of more than 80 competing insurance and reinsurance
syndicates that operate under its banner, writing business in
its modernist building in the City of London.
The results are the first since the market appointed Inga
Beale a 30 year industry veteran who was previously head of
insurer Canopius, to be its new chief executive.
(Reporting by Chris Vellacott)