Lloyd’s Chairman John Nelson has refuted remarks on unauthorised foreign insurers (UFIs) attributed to him in Fairfax Media this morning.

A spokesman told insuranceNEWS.com.au that Mr Nelson was interviewed yesterday in Sydney with two Lloyd’s colleagues by a journalist from the Australian Financial Review and Fairfax Media.

“In that interview he outlined benefits of international risk diversification to individual country economies, using the New Zealand earthquakes as an example,” the spokesman said.

She said the journalist invited Mr Nelson to support the concept of unauthorised foreign insurers being allowed to underwrite catastrophes in Queensland.

“He declined, adding he did not want to comment on a domestic political issue.

“Unaccountably, this has been reported as support for this concept.”

Lloyd’s says a clarification will be made by the journalist today.

An Insurance News interview with Mr Nelson will feature in Monday’s bulletin.