Lloyd’s announced that it has obtained a license to write direct general insurance business in Guernsey.
“Before now Lloyd’s has been viewed as a ‘Recognized Insurer’, which has meant underwriters have only been permitted to write Guernsey insurance business from London on a cross-border basis,” the bulletin explained.
“The new license permits Lloyd’s underwriters to write insurance business locally through cover holders and for managing agents to establish service companies in Guernsey.”
Source: Lloyd’s – www.lloyds.com
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