LLOYD’S ADMITS FIRST NON-UK BROKERS

Lloyd’s has admitted six new insurance brokers to its ranks, including the first non-UK-based brokers ever to be granted direct access to the Lime Street market. The brokers are the first to be accredited under rules announced last year to simplify access to the market and recognise the increasing globalisation of business. The two UK operations admitted are Grosvenor Brokers (America) and BDB, while the new overseas brokers are Singapore-based Benfield Greig Asia, France-based brokers Benfield Greig Paris and Groupe Eyssautier, and Luxembourg’s SAIL — Société Anonyme D’Intermédiaires Luxembourgeois. Julian James, director of worldwide markets at Lloyd’s, said that “each of these new brokers is well known and respected in their class of business and by entering Lloyd’s they can provide their customers with greater choice and flexibility”. He added that Lloyd’s would “continue to encourage brokers, both in the UK and overseas, to access the market” and confirmed that more brokers would be accredited over the coming months. With the new entrants, Lloyd’s brokers currently number 134. More than 200 international brokers have expressed an interest in gaining accreditation since the beginning of the year.