Lloyd’s to Exit U.S. Admitted Market, Focus on U.S. Surplus Lines, Reinsurance

Lloyd’s announced it plans to stop accepting admitted market accounts in the U.S. in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the market leader.

As part of this strategy to focus on its core markets, Lloyd’s will relinquish its admitted licenses in the U.S. Virgin Islands, Kentucky and Illinois, which together represent US$215 million or 1% of Lloyd’s annual U.S. premium income.

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