Lloyd’s, the global leader in insurance and reinsurance, has announced a significant extension of its occupancy at One Lime Street, securing the prestigious location until at least 2035, with an optional extension to 2040.

The extension agreement, forged with Chinese insurer Ping An, the proprietors of the Grade I listed building since 2013, represents a strategic commitment by Lloyd’s to maintain its presence at the heart of the London insurance marketplace within the historic headquarters.In alignment with Lloyd’s ongoing dedication to fostering a future-ready workspace, the extended lease will facilitate continued renovations, allowing for enhancements to workspaces, upper galleries, and common areas.

The initiative includes the implementation of energy-efficient building infrastructure, a move aimed at reducing the overall carbon footprint of this iconic structure while also improving essential services.

Beyond creating an upgraded environment for current occupants, the renovations will open up new lease opportunities for businesses seeking cutting-edge, environmentally conscious spaces within one of the world’s most renowned office buildings.

A noteworthy aspect of the lease terms involves a joint commitment by both parties to invest in the decarbonisation and enhancement of energy efficiency over the next five years, underlining a shared vision for a sustainable and modernised future for One Lime Street.

Lloyd’s Chairman, Bruce-Carnegie Brown, said: “The Lloyd’s building holds a special place in our market’s collective consciousness. The changes we’ve made to the ground floor this summer signal the start of our ambitions – but there’s more to come, and we’ll be redesigning other spaces in the Lloyd’s Building to support our market’s collaboration and innovation. We’ll continue to monitor how the changes are working so One Lime Street can remain the iconic and dynamic space our market and customers need it to be.”