Lloyd's of London: 2024 preliminary results

Lloyd's of London has released its preliminary financial results for the financial year 2024.

Gross written premiums reached 55.5 billion GBP (69.7 billion USD) at end-December, up by 6.5% over one year.

Affected by large claims in the second half of the year, the combined ratio deteriorated by 2.9 points to 86.9%, compared with 84% in 2023.

At 4.9 billion GBP (6.2 billion USD), return on investment fell by 7.5% year-on-year. The underwriting result declined by 10.2% to 5.3 billion GBP (6.7 billion USD).

The industry giant closed the 2024 financial year with a pre-tax profit of 9.6 billion GBP (12.1 billion USD), marking a 10.3% decline on the 10.7 billion GBP (13.6 billion USD) posted a year earlier.

Lloyd's is expecting losses amounting to 2.3 billion USD in connection with the fires that ravaged Los Angeles in January 2025.

The final annual results will be published on 20 March 2025.