Lloyd's aviation department has been sold to Charles Taylor Group for £2.6m.

The second largest of its kind in the London market, it was sold off as part of the restructuring of the Corporation of Lloyd's, which began last year.

The aviation department was born in January 1960, and has since provided aviation loss adjusting and surveying services to the international insurance market.

John Rowe, Chairman of Charles Taylor Group, said: “This is a business we have studied and admired for some years now. It fits perfectly into CTG.”

CTG believes that the aviation division will flourish in its new home.