Lloyd’s global results 1998 Approaching the bottom

Lloyd’s figures are certain to be poor for the next few closed years of account as the market struggles to cope with the cyclical downturn within the wider global insurance industry. The 1997 year was the first since the reconstruction and renewal programme in 1993 to show an overall loss for Lloyd’s, at £176mn, and the market’s recently released global results show the 1998 result deteriorated to £l,031mn.