Lloyds Walks The Walk

When Lloyds of London put in place a new Franchise Board back in January, its stated goal was to monitor the performance and management of syndicates to assure that they dont do anything to undermine the credibility of the Lloyds vital brand name. While there was no doubt that Lloyds had talked the talk of reform, the market withheld judgment until Lloyds actually had to walk the walk when trouble inevitably arose.

Well, that moment of truth arrived late last month when Lloyds announced that it had forced Goshawk Syndicate Management Ltd. to put Syndicate 102 into runoff, effective Oct. 30.

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