Lloyd’s of London to promote its business growth in India

Lloyd’s of London, Britain’s 325 year-old insurance and reinsurance market has revealed its plan to promote business growth in emerging markets like India, China & Brazil.
According to the report, a strategy named ‘Vision 2025’ was launched on Friday at a ceremony in the Lloyd’s underwriting room. British Prime Minister, David Cameron attended the ceremony.

Speaking on the occasion, Mr. Richard Ward, CEO, Lloyd’s said, “What we are trying to set out is a high-level strategy. With the growth in economies such as China and India, we need to attract capital and business from those economies. This is not something that is going to happen overnight”.

Mr. Ward also mentioned the recent deal between Lloyd’s insurer Catlin and China Reinsurance. China Reinsurance is the largest insurer in China. In November 2011, Catlin, on behalf of China Reinsurer stuck a deal to manage a new syndicate at Lloyd’s of London. This is the first ever deal in which a Chinese company has directly invested its money at Lloyd’s market.

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