Lloyd's Brussels recorded a turnover of 2.65 billion EUR (2.8 billion USD) in 2019, that is almost 10% of the premium volume of the Belgian non-life market. The Brussels-based entity initiated its activities on 1 January 2019.
Lloyd's Brussels [4], whose capital was estimated at 100 million EUR (112 million USD) by the end of 2019, shall make a further substantial capital contribution by the end of Summer 2020.
Such shareholder’s equity contribution aims to develop the insurer's activities on the European continent. The company needs significant financial resources to face the new opportunities arising on the market, mainly the risks of pandemics and cyber risks.
Lloyd's Brussels also intends to increase its staff and finalise the transfer of its portfolio from London to Brussels.