Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
Howden notes that Lloyd’s has achieved excellent
underwriting results for three consecutive years, with an exceptionally strong
performance in 2023. The net combined ratio was 84%, and the return on capital was 25%.
These results mark a significant improvement from
the poor performance between 2017 and 2020.
This turnaround is due to a focus on price adequacy, leading to 28
consecutive quarters of rate strengthening, the non-renewal of unprofitable business, and the
removal of weak franchises.
Additionally, Lloyd’s reduced aggregate catastrophe
exposures, strategically repositioned the market’s remaining catastrophe
exposure, and implemented efforts to reduce expenses through modernization and
technology. Howden states, “The excellent underwriting result of 2023 was
supported by strong investment returns, in part boosted by the unwinding of
material mark-to-market losses booked in 2022, resulting in a market wide
return on capital of ~25% – the highest figure for well over a decade.”
