Lloyd's is pleased to report a US$4.9billion profit for 2014, with a return on capital of 14.7%. These are strong results, achieved against a backdrop of challenging conditions - abundance of capital, low interest rates and other challenges facing our industry globally.
Lloyd's financial strength ratings remain strong with AA- (very strong) Fitch, A+ (strong) from Standard & Poor's and A (excellent) from A.M. Best. Lloyd's is currently on positive outlook with A. M. Best.
Our Chain of Security, with provides excellent financial security to all our policyholders, is stronger than ever. Lloyd's capital and reserves remain robust and have increased by 11.2% to US $41.7bn.
In the US, Lloyd's grew by 15% (to US $9 billion) in E&S and 2.8% (to US$5.3 billion) in Reinsurance. Including Canada, these segments and our licensed platforms in Illinois, Kentucky and the USVI contributed 44% of Lloyd's global premium last year.