Local and foreign insurance brokers have renewed business drive to do more business with LIoyd’s as brokers discovered their satisfaction levels with the business processes in Lloyd’s.

For the Nigeria market, Hogg Robinson is in the fore front with JLT coordinating LIoyd’s syndicates in placing Nigeria’s big risks businesses with international insurers including LIoyd’s.

A study showed a leap in number of London market brokers who are favourable to transacting business at Lloyd’s in the next three years: 84 percent said they are very positive in 2010 compared with 67 percent in 2008.

R reinsurance brokers are the most positive about Lloyd’s as a market in which to do business, 91 percent of those reinsurance brokers interviewed feel very positive about using Lloyd’s as a market.

On all business processing measures tested, the overwhelming majority of brokers now rate Lloyd’s as on a par with, or outperforming other markets.

In particular brokers said that Lloyd’s performs ahead of other markets on: obtaining quotations (72 percent of brokers claim that Lloyd’s is better than other markets), agreeing a final risk acceptance (61 percent of brokers said that Lloyd’s is better than other markets) and processing and settling claims (42 percent felt that Lloyd’s is better than other markets).

Mr David Gittings, chief executive officer of the LMA, said: “This independent research is great news for managing agents at Lloyd’s whose hard work and commitment has been reflected in broker satisfaction being at an all time high.

The market has embraced process reform and can now demonstrate not only its strong underwriting and claims performance, but also that it is one of the most efficient markets in the World.

“This survey affirms that brokers find Lloyd’s a very attractive and efficient marketplace in which to place their clients business,” said Mr David Ibeson, chief executive officer of Catlin Underwriting Agencies.