Lloyd’s Opens West Coast Office in L.A.

Lloyd’s announced it is opening a West Coast office based in Los Angeles, whose principal goal will be to enhance the Lloyd’s trading platform in four Western States: California, Oregon, Washington and Arizona

Lloyd’s hopes to develop its business in that region, and has appointed Tony Joseph, ACII to lead the office and to serve as Senior Vice President of Lloyd’s America, Inc. He will join Lloyd’s on 7 September 2004 and will report directly to Wendy Baker, President of Lloyd’s America.

The office “will also work to strengthen relationships with brokers, clients and reinsurance buyers,” said the bulletin. Lloyd’s currently has three U.S. offices in New York, Chicago and Kentucky.

In a sense Joseph is coming home. He started his career as a Lloyd’s broker in 1965 and has also worked as a Lloyd’s underwriter. He has been with Guy Carpenter & Company in California since 1994, most recently serving as Senior Vice President, leading a team of seven, working mainly on property, general casualty, and professional indemnity lines of reinsurance. He has lived in the US for 26 years during which time he has maintained strong relationships with many underwriters in the Lloyd’s market.

“The opening of a Lloyd’s office on the West Coast demonstrates our strong commitment to serve the American market, to strengthen our relationships with brokers and clients and to grow our business in the US,” Baker commented. “Tony brings outstanding skills and experience on both the insurance and reinsurance side, with a long track record of working with Lloyd’s and the London market. We are delighted to welcome him to the team.”

“I am looking forward to joining Lloyd’s at such a critical time for the market,” Joseph responded. “A presence in California will give Lloyd’s underwriters the opportunity to work more closely with brokers and clients on the West Coast. I look forward to developing the Lloyd’s business here.”

Lloyd’s also noted that its “business in the US has more than doubled in the last five years to $8.4 billion.”