AM Best has commented that all ratings of Lloyd's of London and the Society of Lloyd's remain unchanged following the announcement of an annually accounted profit of £1,357m ($2,614m). The profit falls at the upper end of the range anticipated by AM Best, taking into account net catastrophe losses of approximately £1,200m ($2,312m) largely incurred in the second half of 2004 and the impact of the recent settlement with Central Fund insurers, which reduced the profit by £323m ($622m) before tax.

Topics