Lloyd’s of London to benefit as Formula 1 firms look to ease insurance costs
Lloyd’s of London is lined up for one of its biggest ever contracts as Formula 1 firms look to pool cover to cut costs.
At present, F1 is listed on Nasdaq but the companies that run the 21 races are independently owned.
They plan to switch from individual policies to a joint one offering £1.6bn cover.
The plans, discussed by the Formula One Promoters Association, are in response to Formula hitting them with a 5% rise in hosting fees.
It is understood that the one single broker could do the deal, according to the Evening Standard.
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.
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