Lloyd's profits up on bond yields and FX gain
Lloyd's reported a 22.4 percent increase in aggregate market
profits to £1.46bn ($1.90bn) for the first six months of the
year as foreign exchange and bond yield gains more than
counterbalanced significantly weaker underwriting performance.
The result was driven by a trebling of investment return from
0.6 percent to 1.8 percent, as currency gains contributed
£300mn.Chairman John Nelson and CEO Inga Beale said in a joint statement:
"This period's result, therefore, benefited from
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