Lloyd’s records 26% increase in Canadian business

The transformation of the Canadian economy from its traditional reliance on natural resources to technology and knowledge-based industries has impacted on the Lloyd’s market, the eighth largest insurer in Canada. In 1999, Lloyd’s generated a premium income of C$655mn (US$441mn) from its Canadian business. Julian James, managing director of Lloyd’s North America said that the nature of the Canadian risks placed at Lloyd’s is now shifting from the personal to the commercial. He noted that between 1998 and 1999, Lloyd’s had a 26% increase in business from Canada.