Lloyd’s hosts UK Government's inaugural Industrial Strategy Advisory Council meeting

17 Dec 2024

Lloyd’s, the world’s leading marketplace for insurance and reinsurance, today welcomed the UK Chancellor of the Exchequer, Rachel Reeves, and Secretary of State for Business and Trade, Jonathan Reynolds, to Lloyd’s headquarters in London for the inaugural meeting of the UK Government’s Industrial Strategy Advisory Council (ISAC).

Taking place in the heart of the City of London’s financial district, the Chancellor and Secretary of State met with leading business figures in the world-renowned Lloyd’s Building to discuss the future of the UK economy.

The purpose of the inaugural ISAC meeting and subsequent objectives is to maintain a pro-business environment that will capture a greater share of internationally mobile investment, motivating domestic business to boost their investment and scale up their growth. The ISAC will advise the UK Government on channelling support across industries and geographical clusters that have the highest growth potential for the next decade, including how the UK financial services sector can support that endeavour.

"Lloyd's plays a vital role in providing certainty to businesses, especially in the face of increased geopolitical, economic and climate-related risk. It was a pleasure to welcome senior government ministers and business representatives to our headquarters today and we look forward to continuing our close collaboration with the UK Government."

John Neal, CEO, Lloyd’s

Notes to Editors

Enquiries to

+44 (0) 20 7327 5111

pressoffice@lloyds.com

About Lloyd’s

Lloyd’s is the world’s leading marketplace for commercial, corporate and specialty risk solutions. Through the collective intelligence and expertise of the market’s underwriters and brokers, we’re sharing risk to create a braver world.

The Lloyd’s market offers the resources, capability and insight to develop new and innovative products for customers in any industry, on any scale, in more than 200 territories.

We’re made up of more than 50 leading insurance companies, over 380 registered Lloyd’s brokers and a global network of over 4,000 local coverholders. Behind the Lloyd’s market is the Corporation: an independent organisation and regulator working to maintain the market's successful reputation and operation.

About Lloyd’s

We’re working to build solutions for the most current and prevalent threats. As Chair of the Insurance Task Force for HRH The Prince of Wales’s Sustainable Markets Initiative, Lloyd’s is bringing the industry together to insure the transition to net zero. Our research community is pooling expertise from across the industry to provide cutting edge insight on systemic risks from climate change to cyber security.

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And through our digital-led strategy, The Future at Lloyd’s, we’re making it easier and cheaper to place, price and process cover in the Lloyd’s market.

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