Lloyd’s of London EU subsidiary will be in Brussels

Insurance company brexit strategy

As Great Britain triggered Article 50 in order to formally begin Brexit, the massive insurance marketplace plans ahead. The largest specialty insurance market in the world, Lloyd’s of London, has selected Brussels as its intended European Union subsidiary. The decision was made on the eve of the day British Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty with the E.U. This has launched Great Britain’s official intention to leave the E.U. The insurance market made this decision in order to ensure a subsidiary will be in place…

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Lloyd’s of London reports second largest loss from 2011’s insurance market swing

The insurance market of Lloyd’s of London LOL.UL has reported that it experienced its second largest losses in 2011, following the absorption of record breaking claim costs resulting from the natural catastrophes that included the earthquake and tsunami in Japan, as well as the flooding in Thailand. This statement was made on March 28, as it compared its last year’s loss of £516 million with the profit that it made in 2010, of £2.2 billion. The reported loss included the combined financial performance of the eighty insurance syndicate competitors which…

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