Special Bulletin - Lloyd's Global Results
Lloyd’s reported its annual result for the year ended 31 December 2012 on Wednesday 27 March 2013. The strong result, with a profit approaching £3 billion, attracted rather fewer column inches than did last year’s loss of £516m. The profit is the fourth best in Lloyd’s history, all of which have been recorded in the last ten years.
Approximately half the overall result (£1,351m part of £2,771m) relates to a release from reserves held for years prior to 2012. Lloyd’s has carried out a review of these reserves and believes that, despite the scale of releases, reserving levels remain robust and on some measures they are stronger now than 12 months ago.