Lloyd’s is looking east for its next market opportunities, with China and India named as its next targets.

Speaking at the annual Lloyd’s City Dinner last week, Chairman Lord Levene (pictured) says Lloyd’s must do everything possible to develop the depth of the market by offering the greatest range of products and geographical spread.

He says when he first joined Lloyd’s, the business in Asia outside Japan was small.

“For some time it has been clear that if Lloyd’s is to grow, we have to look east,” he said.

Now that it has a licence to operate in China – it will begin business before the end of the year – Lloyd’s is also hopeful the Government of India will give it entry to its insurance market.

“Our goal is to be the most trusted, the most successful and strongest market upon which our policyholders both in the world of reinsurance and direct insurance can rely, and where those skilled entrepreneurs who manage our businesses can prosper,” Lord Levene said.

“And that is where all our energy is now directed.”