Chancellor Gordon Brown's budget revealed plans for the Inland Revenue to accelerate the removal of tax obstacles to people investing in Lloyd's.
The changes will allow Names - individuals who have backed the market - to offset past losses against profits when they convert from unlimited to limited liability.
Deloitte & Touche tax partner Jonathan Rice said: "This is a positive sign and will encourage members to continue to invest in Lloyd's."
The move is aimed at preventing a repeat of the catastrophe in the late 1980s when thousands of Names were forced into bankruptcy after a series of heavy claims.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
