Name-Saving Plan

Lloyd's offers a scheme to attract new investors and protect the old ones

"IN A COMPETITIVE WORLD," ACKNOWLEDGED David Rowland, chairman of Lloyd's of London, "we have performed very poorly." That was hardly news for the nearly 20,000 "Names," Lloyd's investors who in some instances have lost fortunes as the 300-year-old insurance firm bled $9.4 billion in red ink over a four- year period. Losses for 1990, to be reported in June, could be a record $4.4 billion. What was news was the unveiling of Lloyd's first ever business plan -- a 70-page overhaul designed to attract new investors and allow companies, starting next year, to become members for the first time, supplementing the...

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