Lloyd’s Receives Guernsey General Insurance License

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