<P> Each syndicate is responsible for determining how much money to hold in reserve for its known and unknown claim liabilities, and each may choose to release some of its reserves for prior - year claims if it deems it appropriate . Overall reserve releases can improve the current year's combined ratio result, whereas overall reserve increases can worsen the combined ratio . </P> <P> In 2016, before the release of £ 1.15 bn of prior - year reserves, all eight of Lloyd's main business segments produced loss - making "accident year" combined ratios (property for example recorded 106.6 per cent, casualty 102.9 per cent and reinsurance 102.3 per cent). Three of the eight classes (energy, aviation and reinsurance) released enough reserves to produce a "calendar year" profit . In 2017, £ 706m of prior - year reserve releases improved the market result from 116.9 per cent to 114 per cent . </P> <P> The 2017 result was Lloyd's first calendar year loss for six years . This was after the 13th consecutive year of prior - year reserve releases improving the result, by 2.9 points . With the impacts of the Atlantic hurricanes and California wildfires as well as other major catastrophes, property insurance produced a 131.5 per cent accident year combined ratio and the reinsurance segment 121.7 per cent . The best accident year result was in aviation, at 100.6 per cent . </P> <P> The following table details some key financial metrics for the Lloyd's market for the past seven years, as reported in each year's annual report: </P>

Which one of the following has unlimited liability at lloyd’s of london