HC Deb 17 October 1994 vol 248 cc154-5W
Mr. French

To ask the President of the Board of Trade what recent information he had about the extent of Lloyd's losses in the United States market.

Mr. Neil Hamilton

Lloyd's returns to the DTI are prepared on a global basis and they contain no figures for losses in the USA. Detailed figures covering certain classes of non-marine business denominated in US dollars are however provided to the Department. These show that Lloyd's made a significant proportion of their overall losses on these categories of business on policies written before 1986.

Mr. Fraser

To ask the President of the Board of Trade whether he will now set up an inquiry into the management and regulation of Lloyd's insurance market.

Mr. Neil Hamilton