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A man walks up the stairs by the main entrance to Lloyd's of London building in the City of London Thursday, March 30, 2017. Lloyd's of London is setting up a subsidiary in Brussels so that it can continue to write insurance in Europe once Britain leaves the European Union. (AP Photo/Alastair Grant)

Lloyd’s of London is planning to cut 10% of its staff in the U.K. as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its members.

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