Business
Lloyd’s of London Considering Hq Move
Published by maria gbaf
Posted on January 19, 2022
2 min readLast updated: January 28, 2026
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Quick Summary
Lloyd's of London is considering relocating its HQ as firms reassess office needs post-COVID. A decision is expected this year.
Lloyd's of London Weighs HQ Relocation Amid Office Changes
LONDON (Reuters) – Lloyd’s of London is considering whether to remain in its flagship City of London headquarters and may make a decision this year, the commercial insurance market said on Tuesday.
The tower, designed by British architect Richard Rogers, took eight years to build and was completed in 1986.
Companies are reassessing their office space as the COVID-19 pandemic showed working from home was viable.
The pandemic has also speeded up moves towards automation, with Lloyd’s, which insures complex risks from oil rigs to footballers’ legs, increasingly shifting away from doing business on its underwriting floor.
“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,” a spokesperson said by email.
“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.”
Chinese insurer Ping An bought the building for 260 million pounds ($353.91 million) in 2013.
The lease expires in 2031 but there is a break clause in 2026.
The news was first reported by real estate publication React.
Lloyd’s said on Monday that chief operations officer Jennifer Rigby would leave this week, with chief financial officer Burkhard Keese taking on her responsibility for technology and operations.
($1 = 0.7346 pounds)
(Reporting by Carolyn Cohn, editing by Ed Osmond)
Key Takeaways
- •Lloyd's of London may move from its City HQ.
- •The building was completed in 1986 by Richard Rogers.
- •COVID-19 has influenced office space reassessment.
- •Lloyd's is shifting towards more automation.
- •Ping An owns the building, lease break in 2026.
Frequently Asked Questions about Lloyd’s of London considering HQ move
1What is the main topic?
The article discusses Lloyd's of London's consideration to move its headquarters from the City of London.
2Why is Lloyd's of London considering a move?
Due to the COVID-19 pandemic, companies are reassessing office space needs and moving towards more flexible working arrangements.
3Who owns the Lloyd's building?
The building is owned by Chinese insurer Ping An, purchased in 2013 for 260 million pounds.
