Lloyd’s reports attritional loss progress as market swings to £887mn 2020 loss

Lloyd’s fell to an overall market loss of £887mn ($1.22bn) in 2020, down from a profit of £2.5bn in 2019, as the Corporation reported significant improvements in the attritional loss ratio and the underlying combined ratio. Lloyd’s said Covid-19 losses totalled £3.4bn, with the gross cost of the pandemic pegged at £6.2bn.