Private Capital News
- Lloyd’s returned to profit in 2019, largely on the basis of strong investment returns.
- The market response to the Covid-19 crisis is being overseen centrally. Lloyd’s will release a preliminary assessment of loss exposures in May.
- Business continues, even though the market is operating remotely.
- Reserve releases at a much lower level.
Lloyd's CEO, John Neal, has provided the an update to the market on Lloyd’s response to the COVID-19 outbreak. Lloyd’s Executive Committee is meeting on a daily basis to ensure it can respond quickly but also be proactive in the context of fast-moving and unprecedented events.
As well as dealing with the issues of the day, it will be agreeing actions pertaining to people, customers and the market, as well as government, regulators and other stakeholders. It is expected that there will be a number of updates over the coming weeks.