FTSE 100 Giants Absorb Policy Hits as Bond Jitters and Retail Turmoil Test Resilience

The bond market's worst fears are landing on FTSE 100 balance sheets. Lloyd's of London saw pre-tax profit crater 16.7% to £3.5bn in the first half, dragged down by a paltry £1.8bn in investment returns as geopolitical turmoil and inflation hammered its bond portfolio. It's a stark reminder that even the world's premier insurance market isn't immune to the gilt rout, with its core underwriting profit of £1.9bn barely masking the pain. Separately, **M&G swung to a £165m...