Lloyd’s 2024: Property Underwriting Profits Reach £2 Billion
Lloyd’s of London has reported robust property underwriting profits for 2024, achieving a total of £2 billion. The Corporation forecasts that the devastating wildfires in Los Angeles will bolster the rating environment throughout 2025, creating a more advantageous climate for the purchase of reinsurance protection.
The property reinsurance sector also saw an increase in profits, even amidst heightened loss activity, buoyed by robust premium growth. A key factor contributing to the positive outlook is the expectation that the Los Angeles wildfires will shape market dynamics.
This information was originally reported in an article written by Francis Churchill.
NOTE: The article also mentions the impact of Hurricane Helene losses in Florida and other storm events.
This is a summary of the original article.
