Lloyd's has announced a pre-tax profit of GBP 2.1 billion for 2015, about 30% lower as compared with the previous year. "In a market undeniably tougher than seen for many years, we have had to demonstrate our ability to adapt and take action. In these conditions, these results are creditable and a tribute to the continued skill and professionalism of the Lloyd's market underwriting community," said Lloyd's Chairman, John Nelson.

The main coordinates of Lloyd's 2015 achievements are:

• Pre-tax profit of GBP 2.1 billion (2014: GBP 3.0 billion).
• Return on capital of 9.1% (2014: 14.1%).
• Combined ratio of 90.0% (2014: 88.4%).
• GWP increase by 6% to GBP 26.7 billion (2014: GBP 25.3 billion).
• Profits remain significant despite fall in investment returns and pressure on prices.
• Increasing financial strength demonstrates prudential resiliency
  

Lloyd's ratings of A (excellent) by A.M. Best, AA- (very strong) by Fitch and A+ (strong) by Standard & Poor's reflect its robust position. Lloyd's competitive position on a global scale is driven by solid underwriting performance and diversity of global markets and product.

The approval of Lloyd's internal model, a crucial step in securing the ability to operate within the new Solvency II regulatory regime was also a major achievement for the market.

Lloyd's Chief Executive, Inga Beale, said:

"Lloyd's is pursuing its strategy to deliver risk solutions to a fast moving world, business looks to the Lloyd's market to underwrite policies too complex for others to handle. Protection from cyber-attacks, terrorism and climate change are needed now more than ever."