Lloyd’s of London reopens refurbished gallery one

Lloyd’s of London has reopened gallery one for face-to-face trading.

Gallery one, which is part of the underwriting room, closed in April in 2024 for refurbishment.

The redesigned space now features floors organised by class of business, as well as more meeting rooms, workspaces for brokers and underwriting boxes.

A Lloyd’s spokesperson explained that the introduction of new floors should “increase efficiency by enhancing the ease of access to each distinct line of business and speciality for brokers, underwriters and clients”.

They also highlighted that the addition of more meeting rooms and spaces for both informal and formal collaboration aims to foster stronger partnerships between brokers and underwriters.

The spokesperson said: “Lloyd’s mission is to make the market thrive.

“By designing a space that encourages brokers and underwriters to collaborate in multiple ways and providing spaces accessible for all, the trading floors become a more welcoming and vibrant environment.”

Underwriting room

This comes after Lloyd’s refurbished the rest of its underwriting room in the summer of 2023, following a market-wide consultation in Q1 2021.

As works were being carried out, brokers told Insurance Times that underwriters’ attendance at Lloyd’s “dropped” and that the market was “very much at risk, not least because there are fewer junior staff learning their trade”.

Reflecting on last year’s refurbishment, the spokesperson said that the transformation of trading spaces is “fostering a space that the market is proud to be a part of and showcase to their clients”.

Sheila Cameron, chief executive of the Lloyd’s Market Association (LMA), added: “The underwriting room is the beating heart of the London insurance market and this new refurbishment further drives home its status as a must-be location for underwriters and brokers to share and transfer complex risks in the world’s greatest risk transfer marketplace.”