Lloyd's chairman Sax Riley has confirmed unlimited liability Names may be allowed to continue to write in the insurance market.
In January, the Chairman's Strategy Group (CSG), in association with management consultants Bain & Co, recommended ways to modernise Lloyd's.
One of the major proposals was to buy out unlimited liability Names, ending a 314-year-old tradition.
But in a recent letter to members he said: "All market constituencies have raised concerns about the original `sale and leaseback' proposal.
"In light of these concerns, the CSG recognises that a `one size fits all' approach based on the mandatory buyout of security of tenure at this stage may not be the most appropriate way to proceed."
Association of Lloyd's Members (ALM) chairman Michael Deeny said: "The proposals were put out for consultation, they weren't a hard and fast plan and the consultation showed that the majority of the proposal had wide spread support.
"The only one that people had real doubts about was the `sale and leaseback' proposal. So, I think it's perfectly reasonable that it should not be pursued in its original form."
Riley's letter follows predictions by Insurance Times that the recommendation to end unlimited liability would face delay. Last month managing agents said they would refuse to buy out unlimited liability Names, preferring to spend capital on increasing their capacity.
Other proposals, including turning Lloyd's into a franchise, look more likely to be implemented.
Deeny said: "The ALM does not believe Names are the problem. We think the problem at Lloyd's is some syndicates have had huge losses."
He said the ALM supported the franchise proposal, "which is a serious attempt to address that issue".
