Arun Sudhaman 10 Dec 2013 // 4:30PM GMT
LONDON—Lloyd's is seeking communications support for its plans to establish itself as a global insurance hub.
The organisation, which operates the iconic City of London insurance market, has briefed a number of agencies regarding its requirements — involving a broad range of public relations duties outside the UK.
In particular, Lloyd's is seeking an agency that can help support its 'Vision 2025' strategy, which focuses on faster-growing markets around the world. Key countries include the US, China, Brazil, Turkey and Singapore.
Accordingly, Lloyd's is understood to be searching for a London PR firm that can demonstrate specific understanding of a range of geographic markets, as part of an overall bid to improve its global reach.
Lloyd's key audiences include buyers, agents and opinion leaders. According to sources familiar with the situation, the organisation wants to boost its international media profile and develop a more active social media strategy.
Around 40% of Lloyd's current business comes from North America, with 20% from the UK and 16% from continental Europe, In an interview with the Daily Telegraph earlier this year, outgoing CEO Richard Ward noted that it must focus on emerging markets like China, Brazil and Mexico if it hopes to "retain relevance."
In recent years, Lloyd's has expanded overseas, launching underwriting offices in China and making progress in Brazil.
A Lloyd's spokesman declined to comment.