London Reports 26% Profit Surge Despite Rising Global Risks

The historic insurance market saw significant gains in the first half of 2024, driven by disciplined underwriting and organic growth.

Lloyd's of London achieved a pretax profit of £4.9 billion, a 26% increase from the previous year.
Gross written premiums rose to £30.6 billion, reflecting a 4.4% growth.
The combined ratio improved to 83.7%, indicating strong underwriting profitability.
Major events like the Baltimore Bridge disaster had limited financial impact on Lloyd's.
Commercial insurance prices remain high, with cyber insurance as a notable area for future growth.