Lloyd's of London insurance market chairman Lord Peter Levene has said the company will report "positive" full-year 2002 results.
In an in interview with Les Echos, Lord Levene attributed his forecast largely to a rise in insurance rates.
The company is scheduled to report full-year results in May, said Lord Levene.
Lloyd's had a record 2001 net loss of £3 billion sterling following its biggest-ever hit arising from the September 11th terror strikes in the US.
Members of the Lloyd's of London insurance market last September voted in favour of a radical modernisation plan for the 300-year-old insurance market under which syndicates will report results annually.
The changes herald the eventual end of the traditional "names" - wealthy private investors who provide underwriting capacity on an unlimited liability basis.