The key figures reported in Lloyd's 2019 Annual Report are:
- Net resources of GBP 30.6 billion (2018: GBP 28.2 billion)
- Central solvency and coverage ratio of 238% (2018: 249%; 19 March 2020: 205%)
- Gross claims paid of GBP 23.0 billion (2018: GBP 19.7 billion)
- Gross written premiums of GBP 35.9 billion (2018: GBP 35.5 billion)
- Combined ratio of 102.1% (2018: 104.5%)
- Aggregated market profit of GBP 2.5 billion (2018: loss of GBP 1.0 billion)
Lloyd's mentioned that the market is in a strong position to respond to the impacts of COVID-19 and support its customers and business partners, following the publication of its 2019 annual results.
"In 2019, Lloyd's net resources increased by 8.6% to GBP 30.6 billion, reflecting an exceptionally strong balance sheet and a central solvency ratio of 238%. Although there has been a high degree of turbulence in the financial markets over recent weeks, as at 19 March Lloyd's solvency ratio stood at 205%. The exceptional strength of the market's balance sheet has been further bolstered by Lloyd's return to a profit of GBP 2.5 billion (2018: loss of GBP 1.0 billion) in 2019, driven by the repair in investment markets in the first half of 2019".
"Whilst we are pleased to be announcing Lloyd's return to profitability in 2019 and continued progress across our priorities, our primary focus right now is on supporting our customers and business partners in their time of need. I am confident in Lloyd's ability to meet the challenges before it, and in doing so demonstrate the market's unrivalled ability to support people, businesses and countries around the world in response to the far-reaching impacts of COVID-19.", said John Neal, Lloyd's CEO.
"The beginning of 2020 has proved exceptionally difficult as COVID-19 spreads rapidly around the world with devastating consequences for families, communities and the global economy. Now more than ever, our customers need us to be ready to support them through these challenging times.", declared Bruce Carnegie-Brown, Lloyd's Chairman.
2105 views
