INSURANCE

Lloyd’s to Pursue Corporate Capital: Lloyd’s of London said its members have approved a plan allowing companies to enter its market as insurance underwriters, one of the most radical changes in the organization’s 300-year history. Unlike most other insurance concerns that are brokerages, Lloyd’s is a market of individual participants. A majority of the members are backing Chairman David Rowland’s radical plan to reform the market and persuade corporate capital to plug a looming gap in Lloyd’s finances. Some members who opposed the plan fear they will be bled dry paying for Lloyd’s record losses--expected to top more than $9 billion for the years 1988 through 1991--and then discarded, leaving companies to reap the rewards of a revitalized Lloyd’s.