Lloyd's Plans Brussels Office Opening In Response To Brexit

Lloyds of London, the world's oldest insurance market, said Thursday that it will open a new office in Brussels as a result of Britain's decision to leave the European Union
Author:
Publish date:

Lloyds of London, the world's oldest insurance market, said Thursday that it will open a new office in Brussels as a result of Britain's decision to leave the European Union.

The plans came amid the release of full-year figures which showed flat pre-tax profits of £2.1 billion on around £29.9 billion in gross written premiums, up from £26.7 billion in 2015. The group's return on capital, however, slipped to 8.1% from 9.1%, the company said.

"I am excited about the opportunities this venture will offer the market by providing that important European access efficiently," said CEO Inga Beale.