Lloyd’s of London plans to stay in its landmark City building until at least 2031, a vote of confidence in the face-to-face trading that for centuries has been at the heart of the insurance industry’s most famous marketplace.
The smooth transition to working from home during the pandemic lockdowns led some brokers and insurers to predict the death of face-to-face trading, casting doubt on whether Lloyd’s would stay in the iconic City of London building where complex insurance and reinsurance deals are negotiated.
But Lloyd’s has now decided to stay at the Richard Rogers-designed building, according to people familiar with the matter, quashing fears that it may seek to exercise a break clause in its lease that would have seen it relocate in 2026.