The World's Biggest Insurance Market Will Go Online Next Year

Lloyd’s of London, the insurance market founded three centuries ago, will write its first business electronically next year.

Munich Re, the world’s largest reinsurer, will begin writing policies through an online-only syndicate on Jan. 1, according to emailed statements from both companies. While bundles of paper continue to dominate daily business at Lloyd’s, the new syndicate will not have any space on the floor at the market’s Lime Street headquarters.