The interior of the Lloyd's of London building is seen in the City of London financial district in London, Britain, April 16, 2019.
REUTERS/Hannah McKay//File Photo Acquire Licensing RightsLONDON, Sept 7 (Reuters) - Lloyd's of London (SOLYD.UL) swung to a first-half pre-tax profit of 3.9 billion pounds ($4.88 billion), helped by rises in premium rates and positive investment returns, the commercial insurance market said on Thursday.
Lloyd's recorded a loss of 1.8 billion pounds for the same period a year ago.
The COVID-19 pandemic, Ukraine war, inflation and climate change-fuelled natural catastrophes have helped insurers and reinsurers to raise premiums, improving their profits.
Lloyd's saw a net investment return of 1.8 billion pounds, compared with a loss of 3.1 billion pounds a year earlier.
Persons:
Hannah McKay, Lloyd's, ”, John Neal, Carolyn Cohn, Sharon Singleton
Organizations:
REUTERS, Global, Thomson
Locations:
London, City, Britain, Ukraine