The Office of Fair Trading (OFT) has dismissed a complaint from software specialist, Eurobase, which alleged that Lloyd's claims processing company Xchanging was abusing its market position.
The OFT ruled on Tuesday that it had found no evidence to suggest that Xchanging Ins-sure Services was acting in a way that would adversely affect competition.

An OFT spokesman said: "There appear to be no constraints placed on the freedom of insurers in Lloyd's and the London Market to choose either back office service providers or software providers."

Xchanging Ins-sure Services managing director John Benjamin said: "It is a clear decision and we at Xchanging Ins-sure Services have never had any doubt over this issue."

Eurobase commercial director Roy Hutchinson said: "Eurobase still thinks there is potential for distortion of competition in the market and, as a result, is considering a variety of options."

Xchanging's rival received a boost earlier this week when hull underwriter, British Marine Managers purchased its business performance management solution, Prism