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Lloyd's of London says 2016 underwriting not profitable
December 13, 2016 / 10:38 AM / a year ago

Lloyd's of London says 2016 underwriting not profitable

LONDON, Dec 13 (Reuters) - Underwriting has not been profitable this year for the 90-plus syndicates which operate on the Lloyd’s of London insurance market, Lloyd’s said on Tuesday.

“Current year underwriting is not profitable in aggregate at the moment,” Lloyd’s Chairman John Nelson and Chief Executive Inga Beale said in a statement.

“This is a matter of great concern to us.”

Lloyd’s was continuing to make the case to the British government for retaining current trading rights with the European Union but was also finalising work on alternative trading options, Nelson and Beale said. (Reporting by Carolyn Cohn; editing by Simon Jessop)

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