Premium rates increased by 9.9%, continuing the trend of 15 consecutive quarters of positive rate movement.
The combined ratio of 92.2% (HY 2020: 110.4% and 97.0% excluding COVID-19 claims) is a solid improvement with a 4.8 percentage point reduction on the previous year, excluding COVID-19. These results demonstrate the substantial turnaround of Lloyd’s profitability and performance.
Lloyd’s continued to provide significant support to its customers around the world, paying £9.4bn of claims, including to customers impacted by COVID-19 where 80% of the claims notified to date have been paid.