Lloyd’s of London secures £300m of senior debt to fund governance/funding framework changes

Written by Adam Cadle

10/12/2019

Lloyd’s of London has secured £300m of senior debt to fund a series of phased deliveries beginning in 2020 to implement a revised governance, oversight and funding framework.

The insurance and reinsurance market located in London published Blueprint One, which sets out how it plans to offer better solutions to the risks faced by its customers; deliver better products and services to customers and capital providers; simplify the way it works by being more efficient and reducing costs; and build an inclusive culture where everyone feels valued.

In February 2020, Lloyd’s will publish Blueprint 1a, which will set out the detailed plans and deliverables for Phase 1 implementation.

John Neal, Lloyd’s CEO, said: “Since the launch of Blueprint One, we have focused on designing a carefully structured and managed approach to planning and execution to allow regular delivery of value to the market. With robust governance and oversight now in place, and the funds for delivery secured, we have every confidence in the successful delivery of the Future at Lloyd’s.”

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