Lloyd’s preparing for euro disintegration
Richard Ward, chief executive at Lloyd’s, has confirmed the insurance market has prepared for the collapse of the Euro and put a multi-currency settlement option in place and ready to go.
In an interview with The Sunday Telegraph Mr Ward said he was concerned about the consequences of Greece leaving the Euro and what the impact would be on the Eurozone economy.
Mr Ward explained while Greece exiting the Euro would not definitely lead to the collapse of the Eurozone, Lloyd's was still preparing for that to happen.
"If we needed to switch to multi-currency settlement we can do now," he told the newspaper. "We've got multi-currency functionality and we would switch to multi-currency
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