Insurance Day is part of Maritime Intelligence

This site is operated by a business or businesses owned by Maritime Insights & Intelligence Limited, registered in England and Wales with company number 13831625 and address c/o Hackwood Secretaries Limited, One Silk Street, London EC2Y 8HQ, United Kingdom. Lloyd’s List Intelligence is a trading name of Maritime Insights & Intelligence Limited. Lloyd’s is the registered trademark of the Society Incorporated by the Lloyd’s Act 1871 by the name of Lloyd’s.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By


Lloyd's moves to ensure 'efficient functioning of market' as Ukraine crisis deepens

Chief of markets tells Insurance Day the corporation is in dialogues with UK government and regulators as invasion by Russia shows no sign of ending 

Lloyd’s is keeping a close eye on the developing situation in Ukraine, where the Russian invasion shows little sign of slowing down.

Patrick Tiernan, Lloyd’s chief of markets, told Insurance Day the corporation is working to ensure the market continues to function during the crisis. 

“We continue to monitor the deeply concerning situation in Ukraine and our thoughts are first and foremost with those directly impacted. We are proactively engaging with the UK government and international regulators as the situation develops and will support any sanctions put in place," he said. 

“We are working closely with the entire Lloyd’s market and relevant associations to ensure the efficient functioning of our market through the crisis for all customers and stakeholders."

The invasion has prompted a wide range of sanctions from Western governments, with counter-sanctions reported to be considered by the Russian government. Further sanctions are reported to be imminent.

Russian airspace has been closed to overflights from the UK in retaliation to a UK ban on Russian flights.

Turkey’s Maritime Authority has confirmed the Turkish-owned bulk carrier Yasa Jupiter was struck by a Russian bomb off the coast of the Ukraine, near the port of Odessa. There were no casualties and the ship is now reported to be safely docked in Romanian waters to assess the damage.





Ask The Analyst

Ask The Analyst - Ask Your Question Send your question to our team of expert analysts. You can: • Ask for background information on/explanation of articles in Insurance Day * • Find out more about our views on industry developments • Ask for an interpretation of market trends • Source supplementary data relating to articles • Request explanations to further your understanding of current issues (* This relates to any Insurance Day that is included as part of your subscription) We will do the research and get back to you personally with the information you need.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts