Lloyd’s of London chief executive John Neal said he is prepared to force through his proposed changes to the world’s leading insurance market, even if some of them face opposition. Mr Neal unveiled a series of measures in May designed to cut costs and pull more business into Lloyd’s. They included splitting the market into two, with one online system for standard policies and another system for more complex contracts. Mr Neal said on Thursday a 10-week consultation process had revealed plenty of support for his ideas. But he added that, once the next steps had been decided, brokers and underwriters, who negotiate the policies, would have to sign up.

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