Lloyd's, a specialist insurance market, has opened a Benelux office in Rotterdam, Netherlands, which will manage both the legal representation and business development of the region in one location.

Lloyd’s said that Benelux is a mature, thriving insurance market, and Rotterdam is well positioned between Amsterdam and Antwerp to take advantage of it. The Benelux region consists of Belgium, Netherlands, and Luxembourg.

Lloyd chairman Lord Levene said that the latest office brings Lloyd’s back to the heart of the Benelux region. The first chairman of Lloyd’s in the early 18th century was a Martin Van Mierop, a Dutch trader based in London.

"Lloyd’s looks forward with great anticipation to working with Dutch industry and helping its economy to manage its risks," Levene said.

Ralph Van Helden, who joined Lloyd’s last August as Benelux regional manager to drive the business development in the region said there are many opportunities for Lloyd’s in the Benelux region and this office will act as a hub for the area as Lloyd’s look to capitalize on these.

"We already have a strong presence but I’m looking forward to working with the industry to show all that Lloyd’s has to offer and expanding on the work we already do in the local market," Van Helden said.