Howden Re – Lloyd’s market snapshot report

Posted 13/06/2024 – Quick takes

Howden Re has published a report on the Lloyd’s market and its financial performance.

The key takeaways are:

  • Investor confidence is returning to the Lloyd’s market
  • Since 2014 the annual growth in premium income has been 8%
  • Over a 20-year period the Lloyd’s average annual return on equity has been 11%
  • Since 2014, the average annual rate increase has been +8%, resulting in risk-adjusted prices being circa 50% better in 2023 than in 2014.
  • Lloyd’s expense ratio has improved by 6 percentage points from 2016 to 2023
  • The largest 13 carriers at Lloyd’s control over 50% of the market’s capacity

Alpha comment

This is an interesting summary report from Howden Re showing how the Lloyd’s market has developed over recent years. The financials highlight how much the market has improved since the soft market on all metrics. If you would like to view the full report the link is here.

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