- For further detail on any forward-looking statements please refer to the 2022 Half Year Results.
- A combined ratio is a measure of an insurer’s underwriting profitability based on the ratio of net incurred claims plus net operating expenses to net earned premiums. A combined ratio of 100% is break even (before taking into account investment returns). A ratio less than 100% is an underwriting profit.
- Central assets include the assets of the Central Fund and the other assets of the Corporation. In aggregate, the value of Lloyd’s central assets amounted to £3.3bn at 30 June 2022 (31 December 2021: £3.1bn). The Society interim financial statements are drawn up under UK GAAP.
- Lloyd’s strong financial strength ratings are A+ (Strong) stable outlook with Standard & Poor’s, A (Excellent) stable outlook with A.M. Best, AA- (Very Strong) with Fitch Ratings and AA- (Very Strong) with Kroll Bond Rating Agency.
- Members’ resources operate on a several basis and are only available to meet each member’s share of claims. Central assets are available at the Council’s discretion to meet the liabilities of any member on a mutual basis.
- Foreign exchange rates may materially fluctuate from the rates prevailing at 30 June 2022 (£1 = US$1.21, £1 = €1.16). Premiums, claims and investment income are translated at the average exchange rate for the period to 30 June 2022 (£1 = US$1.30, £1 = €1.19).
- July announcement on the market facility supporting the UN-sponsored agreement between Russia and Ukraine to insure the export of grain to countries hardest hit by the food crisis.
- Blueprint Two sets out a comprehensive strategy to deliver profound change in the Lloyd’s market through digitalisation, making Lloyd’s a cheaper, faster and more efficient place to do business. Following publication of the Blueprint Two roadmap in January 2022, which outlined market milestones until Q2 2024, significant progress has been made on key deliverables in open market placement, delegated authority placement, claims and digital processing services.
- Lloyd’s PCC vehicles complement the traditional approaches to deploying capital and managing risks at Lloyd’s, offering an efficient route for institutional investors to support the growth and diversity of risks written in the market. In August 2022 Lloyd’s announced London Bridge Risk 2 PCC.
- Lloyd’s ESG strategy and responsible business approach outlines Lloyd’s commitment to insuring the transition to net zero by providing the vital risk management solutions that will underpin and enable businesses, governments and economies to take brave action, drive forward climate innovation and accelerate critical decarbonisation activities over the years ahead.
- Lloyd’s, through its future culture strategy, is committed to creating an inclusive culture that attracts the most talented people in the world, so that we can together deliver on our purpose of sharing risk to create a braver world.
- More news and information available from lloyds.com.
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Lloyd’s is the world’s leading marketplace for commercial, corporate and specialty risk solutions. Through the collective intelligence and expertise of the market’s underwriters and brokers, we’re sharing risk to create a braver world.
The Lloyd’s market offers the resources, capability and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories.
We’re made up of more than 50 leading insurance companies, over 380 registered Lloyd’s brokers and a global network of over 4,000 local coverholders. Behind the Lloyd’s market is the Corporation: an independent organisation and regulator working to maintain the market’s successful reputation and operation.
We’re working to build solutions for the most current and prevalent threats. As Chair of the Insurance Task Force for HRH The Prince of Wales’s Sustainable Markets Initiative, Lloyd’s is bringing the industry together to insure the transition to net zero. Our research community is pooling expertise from across the industry to provide cutting edge insight on systemic risks from climate change to cyber security.
And through our digital-led strategy, The Future at Lloyd’s, we’re making it easier and cheaper to place, price and process cover in the Lloyd’s market.