Investments prop up Lloyd's 2016 profit

Lloyd's posted a pre-tax profit of £2.1bn ($2.6bn) for
2016, unchanged from the previous year, as an improved investment
result offset a deteriorating underwriting performance.
The Corporation also confirmed a Tuesday report by this
publication that it would opena subsidiary in Brussels to allow it to retain EU market access
after Brexit. The new company is expected to be ready to write
business for the 1 January 2019 renewal season.Lloyd's reported a combined ratio of 97.9 percent for...