Lloyd’s looks to relocate after more than three decades in current home

Lloyd’s of London has hinted at making an office move in 2022 as it considers whether to remain in its London headquarters following increased homeworking as a result of the Covid-19 pandemic.

The ‘inside-out’ flagship tower, which was designed by British architect Richard Rogers, took eight years to build and was completed in 1986.

During the construction, 33,510 cubic metres of concrete, 30,000 square metres of stainless steel cladding and 12,000 square metres of glass were used.

The building was then bought by Chinese insurer Ping An in July 2013 for a total of £260m.

Lloyd’s lease ends in 2031, with a break clause in 2026.

A Lloyd’s spokesperson told Insurance Times: “As we adapt to new structures and flexible ways of working, we are continuing to carefully think about the future requirements for the spaces and services our marketplace needs.

“Currently, like many other organisations, we are considering a range of options around our workspace strategy and the future leasing arrangements for Lloyd’s.

“We are aiming to share our plans during 2022.”

Lloyd’s earliest home was Edward Lloyd’s coffee house on Tower Street, which was established in 1688 and recognised as a hub for obtaining marine insurance.