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Member, Beacon International Group, Ltd.
The waiting list for insurers to secure a seat on Lloyd's of London's underwriting floor is currently the longest in its 327-year history, reported Bloomberg.
A Lloyd's spokesman said that there are requests for around 160 box seats from insurers. Box seats are places where underwriters and brokers negotiate policies face-to-face. Lloyd's underwriting room is spread across four floors and has 2,900 seats. Lloyd's chairman John Nelson said that the "huge pressure" for more seats has raised questions of whether they should expand onto a fifth floor.