LONDON (Reuters) – The U.S. insurer W.R. Berkley is planning a 40-story skyscraper in London's main financial district, underlining the importance of the industry to an area once dominated by banking.
While many investment banks have moved to the Canary Wharf district in recent years, attracted by large trading floors and cheaper rents, insurers have been the only bright spot in an otherwise moribund lettings market in London's traditional financial district surrounding the Bank of England.
W.R. Berkley, which has bought the land, has appointed architect Kohn Pederson Fox (KPF) to design the building.
"We are in discussions with KPF and the City of London Corporation about a project," Andrew Reynolds, vice-president of UK property development at W.R. Berkley, told Reuters.
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