Lord Levene of Portsoken is to serve a second term as chairman of Lloyd's it was announced today.

Lord Levene became Lloyd's 61st Chairman for a minimum term of three years in November 2002. His second three-year term will begin in November 2005.

Lord Levene said: “The Lloyd's market has undergone a major transformation in recent years, but we are under no illusion that more needs to be done to cement that progress.

“I was, therefore, delighted that the Council of Lloyd's has given me the opportunity to help take that work forward.”

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