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Lloyd's of London prepares for Greek exit - paper

yahoo.com (2 years and 2 months ago)

May 27, 2012

LONDON (Reuters) - The Lloyd's of London insurance market has reduced its exposure "as much as possible" to the crisis-hit euro zone in preparation for a collapse of the bloc's single currency, its chief executive told the Sunday Telegraph newspaper. Richard Ward said Lloyd's had put in place a contingency plan to switch euro underwriting to multi-currency settlement if Greece abandoned the euro, and that it could have to take writedowns on... full story

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