Yasuda to put money into Lloyd's

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The Independent Online
JAPAN's second-largest insurance group, the Yasuda Fire and Marine Insurance Company, is to invest in the Lloyd's of London insurance market as a corporate member from 1994, writes John Moore.

The company will subscribe minimum capital of pounds 1.5m to Lloyd's, its London representatives said. It is in the process of forming Yasuda Lloyd's Corporate Member and has instructed the Kiln Cotesworth Members Agency group at Lloyd's to act as an approved adviser.

Yasuda will invest in insurance syndicates managed by the Wellington and Murray Lawrence agencies as well as syndicates within the Kiln agency group.

Yasuda has traded with Lloyd's for many years. 'The introduction of corporate capital provides an excellent opportunity to reconfirm our long-term commitment to this important market,' it said.

Yasuda is believed to be only the first of a number of overseas insurers to have considered participating in the Lloyd's market through corporate subsidiaries.