Context
Lloyd’s has announced its full year 2024 financial results, which show a continuation of positive returns, with profit before tax of £9.6bn (2023: £10.7bn), consisting of an underwriting result of £5.3bn (2023: £5.9bn) and an investment return of £4.9bn (2023: £5.3bn). The results are described as “…another year of outstanding financial performance…”.
Key points to note and next actions
The key figures reported in Lloyd’s 2024 full year results include:
- Gross written premium of £55.5bn (2023: £52.1bn)
- Underwriting result of £5.3bn (2023: £5.9bn)
- Combined ratio of 86.9% (2023: 84.0%)
- Underlying combined ratio of 79.1% (2023: 80.5%)
- Profit before tax of £9.6bn (2023: £10.7bn)
- Investment return of £4.9bn (2023: £5.3bn)
- Total capital, reserves and subordinated loan notes of £47.1bn (2023: £45.3bn)
- Central solvency ratio of 435% (2023: 503%)
Lloyd’s financial strength ratings are AA- (Very Strong) stable outlook with S&P Global, A+ (Superior) stable outlook with AM Best, AA- (Very Strong) stable outlook with Fitch Ratings, AA- (Very Strong) stable outlook with KBRA.