Lloyd’s CUO Rachel Turk said she expected Lloyd’s top-line for the 2025 year of account to fall to £60bn ($80bn), 10% below initial expectations, but urged managing agents to act, as rate reductions step ahead of forecasts.
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Turk urges ‘fragile’ Lloyd’s market to get realistic on top-line aims
The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.