Lloyd’s, a marketplace for insurance and reinsurance, recently hosted the inaugural meeting of the UK Government’s Industrial Strategy Advisory Council (ISAC) at its headquarters in London.
The meeting brought together UK Chancellor of the Exchequer Rachel Reeves and Secretary of State for Business and Trade Jonathan Reynolds at the historic Lloyd’s Building, located in the City of London’s financial district.
The Chancellor and Secretary of State met with leading business representatives to discuss strategies for advancing the UK economy.
The ISAC aims to cultivate a business-friendly environment that attracts a larger share of international investment while encouraging domestic businesses to enhance their investment and scale their growth.
The council will provide advice to the UK Government on prioritising support for industries and regional hubs with the highest growth potential over the next decade. Discussions also focused on how the UK’s financial services sector can contribute to achieving these goals.
Lloyd’s CEO, John Neal, added: “Lloyd’s plays a vital role in providing certainty to businesses, especially in the face of increased geopolitical, economic and climate-related risk. It was a pleasure to welcome senior government ministers and business representatives to our headquarters today and we look forward to continuing our close collaboration with the UK Government.”
