GWP increased by 6.9%, driven by growth from new and existing syndicates, despite a more competitive pricing environment. The market remains on track to deliver the full-year results previously guided.
An underwriting profit of GBP 1.9 billion and combined ratio of 90.8% benefited from comparatively lower major claims, while the underlying combined ratio increased to 84.0% as risk-adjusted rates reduced.
Profit before tax decreased to GBP 3.5 billion, with investment returns of GBP 1.8 billion affected by unrealised fixed income losses following a widening of yields in the period.
“The syndicates operating in the Lloyd’s market delivered a solid aggregate set of results for the six months ended 30 June 2026. But performance and high risk are far from mutually exclusive. Underwriting discipline and innovation are the keys to maintaining outperformance and quality of earnings”, commented Patrick Tiernan, Chief Executive.
The full report can be found here.
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