Lloyd's of London

HC Deb 18 July 1995 vol 263 c1209W

Mr. Duncan

To ask the President of the Board of Trade if he will give details of ministerial responsibilities toward Lloyd's of London. [36071]

Mr. Lang

I am an underwriting member of Lloyd's for 1995, and I have instructed my underwriting agents to give immediate notice that I shall cease underwriting at the end of 1995. Until such time as my outstanding open syndicate commitments have been closed, I have instructed my officials and ministerial colleagues not to brief me on Lloyd's issues, and I shall stand aside from all decisions concerning Lloyd's. The Minister for Trade will have responsibility for Lloyd's, assisted by the Minister for Competition and Consumer Affairs.