Insurance market Lloyd’s of London has hired College Hill as its
financial and corporate PR agency as it prepares for a downturn in
Last month outgoing Lloyd’s CEO Ron Sandler warned that the market’s
three-year run of record profits had come to an end and that it would
turn to a loss for 1998. Further losses are also forecast for 1999.
The agency, appointed with a brief covering corporate positioning, media
relations and investor relations, replaces incumbent The Maitland
’The change in agency is a result of our change in managers, who wanted
to take a fresh look at PR needs,’ said Caroline Wagstaff, Lloyd’s
marketing and communications manager. College Hill will report directly
Her remit covers PR following Lloyd’s cost-cutting decision last month
to merge its corporate communications and marketing departments (PR
Week, 21 May).
According to Wagstaff, the contract with College Hill will initially
include more external support as a result of the company’s ongoing
review of its in-house marketing and corporate communications functions.
Wagstaff took over the roles of corporate communications head Peter Hill
and media relations manager Nick Doak, whose posts have been abolished.
The six-strong PR team has been reduced to one.