Throwback Thursday: Lloyd’s looks to Tower Hamlets; Budget blow

5 May 1990: Lloyd’s community push

Lloyd’s unveiled an initiative to “encourage awareness of the enormous recruitment potential of suitably trained local staff available in the Spitalfields district of Tower Hamlets”.

The training schemes included English language tuition to computer and accountancy skills.

If you took part in the scheme, or know someone who did, Post would love to hear from you.

Disasters to double indemnity

1989 was one of the worst ever for natural catastrophes and the insurance industry, Swiss Re reported.

The insurance industry lost $13bn - more than double what it did in 1988 – due to natural disasters in 1989, which Swiss Re stated raised questions among international companies as to whether they want to continue absorbing such “unprecedented” sums or change coverage rules.

Budget blow to insurers

Following the Conservatives chancellor John Major’s 1990 Budget, Robert McCrindle MP wrote: “It would not be surprising if insurance companies concluded that the government is conspiring to make their lives difficult.”

He said insurers were disgruntled after Peps were boosted for the second year in succession, reducing the allure of with profits.