The Courier & Advertiser (Perth and Perthshire Edition)
Costly 2017 for insurer
Devastating hurricanes and earthquakes caused Lloyd’s of London to record a £2 billion loss last year.
The insurance market’s loss compared with a £2.1bn profit the previous year.
The group’s combined ratio – a measure of claims and costs as a proportion of premiums – worsened from 98% to 114%. A figure above 100% is a loss.