This move has arrived as the massive marketplace steps back into profitability after pandemic losses. Lloyd’s of London has announced that it is working with the government of the United Kingdom for the implementation of sanctions against Russian firms due to the war in Ukraine, including cancelling their insurance policies. Shortly after announcing the return to profit, the largest insurance market in the world sees a tough year ahead. According to the market, the war in Ukraine will present a “major claim” for the industry as it seeks to cancel…
Read MoreLloyd’s aims to cancel insurance policies of sanctioned Russian businesses
