Lloyd’s posts underwriting profit of over $3 billion
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Lloyd's of London’s underwriting profit more than doubled to £2.5 billion ($3.11 billion) in the first half of this year from £1.2 billion posted in the year-ago comparative period, driven by relatively lower major claims in the period, Reinsurance News reported. Profit before tax stood at £3.9 billion versus a loss of £1.8 billion in the year-ago comparative period, while its gross written premium grew by 22% year-on-year to £29.3 billion.
