The Lloyd’s Chairman has told Bloomberg that 2026 would be too soon for the marketplace to leave its home on 1 Lime Street in London, as it continues to negotiate to extend its lease beyond 2030.
In an interview with Bloomberg, Bruce Carnegie-Brown was questioned on the market’s plans to stay in the iconic Lloyd’s building.
“Well, we’d like to stay there,” he said. “Clearly, we want to drive a hard bargain with our landlord. So, it’s unsurprising that there would be noise out there.”
He explained that there’s a break in the current lease in 2026, which he thinks is too soon for Lloyd’s to move out.
“And, so, the focus is really on 2031 which would be the next break. I’m hoping we’ll reach agreement with our landlord actually in the next few weeks, and that we’ll have an outcome that allows us to say,” said Carnegie-Brown.
Earlier in the month, the Lloyd’s building in London was forced to close after protesters from climate activist group Extinction Rebellion blockaded entrances, with protesters using superglue, chains and bike locks.
On a more positive note, in March, the market reported its best quality result for some time, with an overall profit of £2.3 billion and a combined ratio of 93.5%.
