Moody’s: Lloyd’s motor deterioration “alarming”
Moody’s has said the performance of the Lloyd’s market in 2010 - a £2.2bn profit before tax – “compares favourably” with its peers in the reinsurance and commercial markets, but warns of the “alarming” deterioration in its motor book.
The market recorded a combined ratio of 93.3% (2009: 86.1%), while the rating agency said the outlook for 2011 was weaker driven by significant expected losses in Q1 in Japan, Australia and New
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