Insurance Brief: Lloyd’s to Open Russian Office

Lloyd’s, the high-end insurance company known for covering things like the hands of concert pianists, announced recently that it has plans to open an office in Russia sometime in 2011.

According to the bulletin it released, the corporate office at has determined that, “…a dedicated country manager will enable Lloyd’s to better understand and explore opportunities in the Russian market; however the office will not be a base for underwriting.”

Expanding upon this, Jose Ribeiro, Director of International Markets for Lloyd’s added, “Now is the right time to develop a small presence in Moscow. The new Russia country manager will be well placed to make informed decisions on behalf of the Lloyd’s market as well as promoting and explaining it to local insurers and brokers.”

Subject to regulatory approvals, the Lloyd’s Russia office is expected to open around the middle of next year.