Lloyd’s to Open Russian Office

Lloyd’s announced that it will open a representative office in Russia next year.

The bulletin indicated that a “dedicated country manager will enable Lloyd’s to better understand and explore opportunities in the Russian market; however the office will not be a base for underwriting.”

Jose Ribeiro, Director, International Markets, Lloyd’s, commented: “Now is the right time to develop a small presence in Moscow. The new Russia country manager will be well placed to make informed decisions on behalf of the Lloyd’s market as well as promoting and explaining it to local insurers and brokers.”

Lloyd’s Russia is expected to open mid-2011 subject to regulatory approvals.

Source: Lloyd’s of London