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Aon Benfield Analytics’ Market Analysis team has released its latest , covering the market’s 2012 financial results and business position in 2013

The report highlights the following “key findings:
— Lloyd’s reported a pre-tax profit of £2.8 billion [$4.3 billion] for 2012, after a loss of £500 million [$768 million] in 2011. This represented a return on capital employed of 14.8 percent.

— Gross premiums written rose by 8.6 percent to £25.5 billion [$35.18 billion], aided by an average risk-adjusted rate increase of 3.0 percent and transfers of business from the company market.

— The underwriting result was a profit of £1.7 billion [$2.612 billion], after a loss of £1.2 billion [$1.844 billion] in 2011. The combined ratio improved from 106.8 percent to 91.1 percent.

— The overall surplus on prior year reserves stood at £1.4 billion [$2.15 billion] (2011: £1.2 billion), representing 7.2 percent (6.5 percent) of net premiums earned.

— The net cost of large losses was £1.8 billion [$2.766 billion] (2011: £4.6 billion [$7.068 billion]), representing 9.7 percent (25.5 percent) of net premiums earned, of which £1.4 billion, [$2.15 billion] related to Hurricane Sandy.

— The total investment return rose by 37 percent to £1.3 billion [$2.0 billion], the increase being driven by capital gains on bonds and equities.

— Total net resources rose by 6 percent to a new high of £20.2 billion [$31.04 billion] at the end of 2012, split £17.7 billion [$27.2 billion] to members’ assets and £2.5 billion [$3.843 billion] to central assets.

Mike Van Slooten, international head of Market Analysis at Aon Benfield Analytics, commented: “The continued attractiveness of the Lloyd’s platform is reflected in record levels of market capacity and high levels of M&A activity. The market has outlined its long term strategy to grow, internationalize and diversify in ‘Vision 2025’.”

Source: Aon Benfield

Aon Benfield Analytics’ Market Analysis team has released its latest Lloyd’s Update report, covering the market’s 2012 financial results and business position in 2013

http://thoughtleadership.aonbenfield.com/Documents/20130625_marketanalysis_lloyds_update_fy2012.pdf

The report highlights the following “key findings:
 Lloyd’s reported a pre-tax profit of £2.8 billion [$4.3 billion] for 2012, after a loss of £500 million [$768 million] in 2011. This represented a return on capital employed of 14.8 percent.

 Gross premiums written rose by 8.6 percent to £25.5 billion [$35.18 billion], aided by an average risk-adjusted rate increase of 3.0 percent and transfers of business from the company market.

 The underwriting result was a profit of £1.7 billion [$2.612 billion], after a loss of £1.2 billion [$1.844 billion] in 2011. The combined ratio improved from 106.8 percent to 91.1 percent.

 The overall surplus on prior year reserves stood at £1.4 billion [$2.15 billion] (2011: £1.2 billion), representing 7.2 percent (6.5 percent) of net premiums earned.

 The net cost of large losses was £1.8 billion [$2.766 billion] (2011: £4.6 billion [$7.068 billion]), representing 9.7 percent (25.5 percent) of net premiums earned, of which £1.4 billion, [$2.15 billion] related to Hurricane Sandy.

 The total investment return rose by 37 percent to £1.3 billion [$2.0 billion], the increase being driven by capital gains on bonds and equities.

 Total net resources rose by 6 percent to a new high of £20.2 billion [$31.04 billion] at the end of 2012, split £17.7 billion [$27.2 billion] to members’ assets and £2.5 billion [$3.843 billion] to central assets.

Mike Van Slooten, international head of Market Analysis at Aon Benfield Analytics, commented: “The continued attractiveness of the Lloyd’s platform is reflected in record levels of market capacity and high levels of M&A activity. The market has outlined its long term
strategy to grow, internationalize and diversify in ‘Vision 2025’.”

Source: Aon Benfield

Topics Profit Loss Excess Surplus Aon Lloyd's