Lloyd's name's are quitting the market

Over 2,OOO LLoyd's "names" have renounced membership of the troubled London market from the end of this year, Lloyd's said in…

Over 2,OOO LLoyd's "names" have renounced membership of the troubled London market from the end of this year, Lloyd's said in a statement yesterday. The names are wealthy individuals who traditionally underwrite the Lloyd's insurance market. These individuals accept unlimited liability to meeting Lloyd's obligations in return for the opportunity to make a substantial profits. Their number will fall to 6,835.

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