Lloyd's of London needs to undertake a number of initiatives to remain progressive and profitable, the chief executive of Markel Corporation said.
Tony Markel, president and chief operating officer of the Glen Allen, Va.-based insurer that operates a Lloyd's syndicate, made his comments in a talk at the Insurance Institute of London.
Lloyd's, he said, has made notable accomplishments in the seven years since Markel purchased Terra Nova Holdings and its six syndicates which were reorganized under Markel Syndicate 3000.
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