Lloyds reveals £3.6bn profit

An “exceptionally low” level of catastrophes enabled the Lloyd’s of London insurance market to announce profits of £3.66bn (€5.3bm) for 2006 today.

The market, which is home to 66 insurance syndicates, made losses of £103m (€151.5m) in 2005 after two years of severe hurricanes in the United States.