Economic news

Lloyd’s of London reports 16 percent drop in pre-tax profit

LLoyd’s of London reported on Thursday its profits dropped 16 percent to £1.22bn for the first half of 2017. Its return on capital slumped from 11.7 percent to 8.9 percent.

According to Lloyd’s, the figures reflected the complecated conditions that have weighed on the sector over recent years.

Among them are pressure on pricing from excess capital and low interest rates.

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