Lloyd's of London posts unchanged pre-tax profit for 2014

LONDON: The Lloyd's of London insurance market posted a pre-tax profit of 3.2 billion pounds ($4.76 billion) for 2014, it said on Thursday, unchanged from the previous year.

The market's combined ratio, a measure of profitability for which a level below 100 per cent indicates a profit, rose to 88.1 per cent from 86.8 per cent in 2013.

Lloyd's of London's return on capital dropped to 14.7 per cent from 16.2 per cent.