Lloyd's Capital Structure Overview

LLOYD'S Return on capital - 2012 – HY 2017 Return on capital 2012 2013 2014 2015 2016 HY 2017 Pre-tax result (£bn) 2.8 3.2 3.0 2.1 2.1 1.2 Combined ratio 91.1% 86.8% 88.4% 90.0% 97.9% 96.9 Investment return 2.6% 1.6% 2.0% 0.7% 2.2% 1.5% Gross written premiums 25.2 25.6 25.3 26.7 29.9 18.9 (£bn) Net resources¹ (£bn) 20.2 21.1 23.4 25.1 28.6 28.0 Pre-tax ROC 14.8% 16.2% 14.1% 9.1% 8.1% 8.9% Source: Lloyd's pro forma financial statements, 30 June 2017. 'Net resources: capital, reserves & subordinated loan notes and securities. 26

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