All through the value chain, capital matters more than it has for many years, and this dynamic is also making itself felt at Lloyd’s.
The Lloyd’s capital squeeze: Trade capital, FX, reinsurance
![lloyds_building_coins_pounds_2022.png](https://assets.euromoneydigital.com/dims4/default/f840588/2147483647/strip/true/crop/620x380+0+0/resize/840x515!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F0d%2Fcd%2F0d5465db4d6e9dbcff1ca92d3917%2Flloyds-building-coins-pounds-2022.png)
All through the value chain, capital matters more than it has for many years, and this dynamic is also making itself felt at Lloyd’s.