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Reweb - Lloyd's urges caution over strong results.
(From Reinsurance)
Lloyd's of London has posted a profit of GBP1.9bn for 2003, up 127% on the GBP834m it recorded for 2002.
The results mark the second year that the market has posted a profit, following five successive years of losses. It also announced that its combined ratio had fallen from 98.6% in 2002 to 90.7% in 2003 and that the central fund had increased by 49% from GBP476m to GBP711m.
However, chief executive Nick Prettejohn urged caution. He ...
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