Lloyd's of London expects to play a key role in the future of the Chinese insurance market. That's the claim of one its senior managers.
Speaking in Shanghai, Lloyd's strategy head James Sutherland, underlined Lloyd's commitment to the Chinese market.
He said:"Lloyd's has a long tradition of providing reinsurance capacity to the Chinese insurance
market and would like to be able to develop that capability so that it can do so in local currency as well as the existing US dollar business it currently writes."
Sutherland explained that Lloyd's are exploring ways of overcoming the mis-match between Lloyd's legal structure and Chinese legislation. However the organisation plans to utilise its global experience to overcome the difficulties.
Sutherland added: "Lloyd's has a long tradition of providing reinsurance capacity to the Chinese insurance
market and would like to be able to develop that capability so that it can do so in local currency as well as the existing US dollar business it currently writes."
