Lloyd's could choose to open a new European insurance platform in the future in order to access a greater array of business from the continent.
Richard Ward, chief executive of Lloyd's, admitted that Lloyd's would consider replicating the model it used when establishing operations in China earlier this year.
“It is a frustration that we don't get more business from the Continent given our proximity to continental Europe,” he said.
“We have representatives in all major continental countries and we are looking at how we can use those representatives to encourage a greater flow of business into the Lloyd's marketplace.
“If we have to change the structure and potentially replicate what we did in Lloyd's Asia then it would be something to consider.”
After announcing profits for 2006 of £3.7bn, Ward also said that Lloyd's recognised that opportunities also existed in other areas, including Brazil, Mexico and the Middle East.
“The world is our oyster and there are still a lot of places for us to go and consider,” he added.
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.
