Lloyd's of London pulls out of European banks
Lloyd's of London, the world's oldest insurance market, has pulled deposits from European banks on concerns that governments may be unable to support lenders in a worsening debt crisis, Finance Director Luke Savage said.
Lloyds Banking Group plc has launched the sale of its €360m portfolio of Irish property loans as the government-controlled lender pushes to shed the legacy of its ill-timed takeover of HBOS.