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Reply to: Lloyds of London
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Previously on "Lloyds of London"
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Worked in the reinsurance market myself via an outfit called Eurobase. Biggest buyers were the Americans, who at that time were insuring every shuttle launch ...
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Originally posted by squarepeg View PostAccording to their official legend they started in a London caf... maybe they want to compete with Costa?
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Originally posted by Mordac View PostI doubt much, if any, of Lloyds business derives directly from the UK "being in the EU". They are the worlds largest specialist insurance & reinsurance market, and still the worlds largest shipping insurance market (by far). If you have an oil rig, or a cruise liner, or a fleet of aircraft to insure, you go to Lloyds. The idea that EU organisations will go "somewhere else" for such specialist insurance is fanciful and ridiculous - there isn't really anywhere else to go.
There my be some tax and regulatory advantages gained by having a small base inside the single market, but it will only ever be a subsidiary of the London operation. I only spent about a year there, and it was a while ago, but I doubt things have changed much, given that it didn't change much in the previous 3 centuries.
One thing has changed though, I heard they have banned drinking during working hours. That will cause a drop in business, especially for the pubs and wine-bars around Leadenhall Market. Those were the days...
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Originally posted by AtW View PostWhat Lloyds knows better than me is %-tage of other business that they get by virtue of UK being part of EU, I reckon that percentage is much higher than 11% direct from EU, which is why they are setting up there and this is why a lot more than 11% of their business will flow via Brussels soon. I don't think it would take long before they book most of their business there.
There my be some tax and regulatory advantages gained by having a small base inside the single market, but it will only ever be a subsidiary of the London operation. I only spent about a year there, and it was a while ago, but I doubt things have changed much, given that it didn't change much in the previous 3 centuries.
One thing has changed though, I heard they have banned drinking during working hours. That will cause a drop in business, especially for the pubs and wine-bars around Leadenhall Market. Those were the days...
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How is it possible Lloyds can trade around the world whilst being based in the EU? What sorcery is this?
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Lloyds already have offices around the world to cater for local markets, including throughout Europe.
Why is this news? More scaremongering nonsense.
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Originally posted by AtW View PostWhat Lloyds knows better than me is %-tage of other business that they get by virtue of UK being part of EU, I reckon that percentage is much higher than 11% direct from EU, which is why they are setting up there and this is why a lot more than 11% of their business will flow via Brussels soon. I don't think it would take long before they book most of their business there.
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Originally posted by AtW View PostWhat Lloyds knows better than me is %-tage of other business that they get by virtue of UK being part of EU, I reckon that percentage is much higher than 11% direct from EU, which is why they are setting up there and this is why a lot more than 11% of their business will flow via Brussels soon. I don't think it would take long before they book most of their business there.
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Originally posted by Mordac View PostWell since you're now the World Authority On Absolutely Everything you'd better tell Lloyds that - they don't know about it yet.
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Originally posted by scooterscot View PostLloyds do 89% of their business in the UK?
I don't think so.
(Assuming that 11% figure is accurate, anyway.)
Edit: The Manc got there first, but Scooty has a better chance of understanding something if he reads it twice.Last edited by Mordac; 30 March 2017, 13:39.
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Originally posted by scooterscot View PostLloyds do 89% of their business in the UK?
I don't think so.
Breaking news:
Lloyds of London trade globally. 11% is European mainland. 89% is rest of the world, including the UK.
Yep, most of their business got to be international - all this will go to Brussels too
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Originally posted by AtW View PostYep, most of their business got to be international - all this will go to Brussels too.
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