The 2011 Lloyd’s results in the red

Lloyd’s have posted their 2011 results, in net decline. The London insurance market is undergoing the worst year in its history since 2001. Natural catastrophes, which account for 7.1 billion USD out of a total 20 billion USD of incurred losses, are the cause of this regress. Despite a slight increase in premiums, Lloyd’s have reported a combined ratio of 106.8%. The loss for the year 2011 amounts to 799 million USD, against a profit of 3.4 billion USD a year earlier.