Lloyd's expects to produce a profit at its year-end despite taking a £1.4bn hit from Hurricane Katrina.

At the six months ended 30 June Lloyd's reported an interim profit of £1.4bn, a 21% rise on the same period last year.

Lloyd's said its syndicates had showed strong underwriting discipline in reducing gross written premiums by 15% to £8.5bn to reflect the softening market place.

Combined ratio rose 2.3 percentage points on the same period last year to 87.3%, it said.

Lloyd's chief executive Nick Prettejohn said: “It is not possible to draw any firm conclusion about full year profits, but in the absence of unusual catastrophic losses in the remainder of the year, we would expect the market to make a profit.”

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.