LLOYD’S OPENS FIRST SPANISH REPRESENTATIVE OFFICE

Lloyd’s yesterday opened a representative office in Spain, as part of the market’s drive to expand its European business “over the medium term”. The newly registered office is based at law firm Davies Arnold Cooper’s (DAC) branch in Madrid and headed by Pablo Wesolowski, a DAC managing partner. Lloyd’s director of worldwide markets Julian James said that the new office was part of a three-year drive by the Lime Street market to develop its network of international trading licences, and added that the offer would “keep Spanish brokers and coverholders in much closer contact with market developments”, as well as allowing Lloyd’s underwriters “to carry out business in Spain and [give] Spanish policyholders greater access to us”. The Spanish office is Lloyd’s tenth European representative office.