FRANKFURT, March 23 Reuters Lloyd39;s of London SOLYD.UL swung to a pretax loss in 2022 and took writedowns on its fixedincome investments, it said on Thursday.

The pretax loss was 800 million pounds 982.56 million, compared with a profit of 2.3 billion pounds a year earlier.

Rising interest rates have hit investments at many financial firms, and it posted a net investment loss of 3.1 billion pounds, compared with a 900 million pound profit in 2021.

However, Lloyd39;s underwriting profit jumped 53 to 2.6 billion pounds. Higher premium rates have helped insurers39; underwriting profits in recent years.

John Neal, CEO of Lloyd39;s, forecast 2023 premiums of 56 billion pounds, up from 46.7 billion in 2022, according to a statement.

1 0.8142 pounds

Reporting by Tom Sims; Editing by Sandra Maler

Source Reuters