Lloyd's of London shakes up governance with single board
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LONDON (Reuters) - Lloyd's of London will simplify its governance structure by merging its two existing boards into one, it said on Friday, as the 330-year old insurance market attempts to modernise in order to fend off competition from cheaper rivals.Lloyd's, which has 99 syndicate members offering insurance in specialist areas from ships to sculptures and conducts much of its business face-to-face, is planning to move onto electronic exchanges and make it quicker and cheaper to set up a..