LL Surplus Lines Series (Entry 25): Lloyd’s of London to Relinquish U.S. Licenses; Will Focus on Expanding Surplus Lines and Reinsurance Operations
On July 10, 2020, Lloyd’s of London (“Lloyd’s”) issued Market Bulletin Ref: Y5299 (the “Bulletin”) announcing that it will seek to relinquish its admitted licenses in Kentucky, Illinois and the U.S. Virgin Islands. The Bulletin states that the decision “was a recognition that the E&S business is a better fit for our underwriters given the market’s innovative nature and expertise in emerging risks.”
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