Centuries-old exchange Lloyd’s of London will be focussing on its core markets, announcing a strategy that will see the world’s specialist insurance marketplace relinquish US admitted licences.
In a market bulletin issued by syndicate capability oversight head Peter Montanaro, Lloyd’s said it will be strengthening its focus on the US reinsurance and excess & surplus (E&S) insurance market “where it is the market leader,” in a move that will be carried out by relinquishing admitted licences in the US Virgin Islands, Kentucky, and Illinois.
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