Lloyd's of London reported a sharp rise in profit

Business English.

Lloyd's of London half-year profit up by £1 billion in boost for the City
https://www.standard.co.uk/business/lloyds-of-london-halfyear-profit-up-by-1-billion-b1180298.html

<words>
consecutive
buck [Collins] If you buck the trend, you obtain different results from others in the same area.
offset
botched [Collins] bungled or mishandled [quote]the global IT outage caused by the botched update rolled out
lapse [Collins] 48 hour lapse in policies [Collins]A lapse of something such as concentration or judgment is a temporary lack of that thing, which can often cause you to make a mistake.
elapse [Collins]When time elapses, it passes.

job of work
[Longman] British English something that you have to do even if you do not enjoy it
[Wiktionary]A required job or task; a job that requires a substantial amount of effort
[quote] improvement came after “a job of work” during which Lloyd’s “cut out the underperforming stuff [to] focus more on the outperforming things.” [unquote]
This stuff sounds it includes staff...

<insurance words>
Gross written premiums
payout
D&O insurance [quote]D&O insurance covers directors and officers for liability that may arise during their duties.

D&O insurance! Who pays?