Lloyd's invested £19.9m in data swapping platform Project Blue Mountain last year, accounts reveal.
And the year before, the Corporation of Lloyd's put £1.9m into the project, now known as Kinnect.
The total deficit before tax in 2002 deteriorated to £5.6m from a surplus of £58.3m in 2001, as it is also facing a higher wage bill for its top people.
Chairman Lord Levene is paid £400,000 plus a £34,000 pension contribution. His predecessor, Sax Riley, was paid £300,000 for a three-day week.
Chief executive Nick Prettejohn received £410,000 for his work in 2002, topped up with bonuses totalling £310,000.
The central fund's net assets totalled £476.2m by the end of 2002, an increase of £196.1m on the year before.
The corporation's staff pension scheme fell further into the red during the year as a result of stock market falls.
The scheme is £67m short of what it needs to pay its members as the value of its assets fell by £356m during 2002.
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.
