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Lloyd’s has reported an increase in its combined ratio to 92.5% in the first half of 2025 up from 83.7% in the same period last year.
The HY 2024 COR results were Lloyd’s best interim figures since 2007. The marketplace for insurance and reinsurance explained the increase this year was driven by the impact of the California wildfires in the first quarter of 2025.
The organisation also stated the expense ratio rose 1.3% to 35.8% with higher gross commissions and increased staff costs reported by the market in the first half of the year.
Also impacted by the wildfires the underwriting result more than halved from £3.1bn in HY 2024
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