Moody’s casts doubt over Lloyd’s’ ‘ambitious’ modernisation plans

Lloyd's of London building

Modernisations plans recently unveiled by Lloyd’s carry “a high degree of execution risk”, largely because they require heavy investment and significant cultural change, according to ratings agency Moody’s. Lloyd’s’ radical “prospectus” includes six initiatives to modernise the market, cut costs, boost product development and improve claims services. They include creating a digital platform for complex risks, alongside a Lloyd’s Risk…

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