P.M. BRIEFING : Lloyd's Looks to Soviet Market

From Times wire services

The Soviet Union presents huge opportunities for foreign insurers if it succeeds in reforming its economy, the chairman of the Lloyd's of London insurance market said today.

"We have to be optimistic and take the view that they're going to become part of the modern world in which case there has to be a colossal opportunity," Murray Lawrence told a wire service.

Lawrence is heading a Lloyd's team in Moscow for talks with Soviet state insurance companies to see what role the world's largest insurance market could play in the Soviet Union.

Lloyd's was already considering approaches from Soviet international insurer Ingosstrakh to help cover commercial space satellite launches, 10 of which are planned for 1992.

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