Lloyd's called on to reduce costs, streamline. (Lloyd's of London)

National Underwriter Property & Casualty-Risk & Benefits Management, November, 1995 by Howard, Lisa S.

LONDON - Lloyd's must be more responsive to the interests of shareholders if the market wants to be more attractive to institutional investors and get the best price for shares in corporate capital vehicles, an official with a U.K. fund manager contends. The market has high expenses and a convoluted structure, rife with conflicts of interest - factors unappealing to institutional investors, said J.

Loughlin Callahan, director of Mercury Asset Management plc., a large independent fund manager based in London. The uncertainties in the market, connected to five years of the largest losses in Lloyd's history - totaling over 8 billion[pounds] ($12.4 billion) - makes Lloyd's "an uninvestable proposition" as a practical matter, he said at a recent meeting on Lloyd's...

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