Lloyd’s of London lets staff work from home as London heatwave approaches
Key Takeaways
- •Lloyd’s of London has told staff they may work from home this week because of forecast high temperatures in London.
- •The Lloyd’s Building at One Lime Street is expected to remain fully open and will continue to offer air conditioning.
- •About 1,200 employees work at the Lloyd’s Building.
- •The company has recently provided employee perks such as complimentary ice cream and themed refreshments during warm weather.
- •ING previously relaxed return-to-office rules during a June heatwave, but is not asking staff to stay home this week because no red alert warning is in place.
Lloyd’s of London is allowing staff to stay away from its historic City building as another heatwave threatens to hit the capital.
The home of the world’s leading specialist insurance and reinsurance marketplace has told staff they may use their judgement and work from home this week, with temperatures in the Square Mile expected to reach 33C, City AM understands.
Around 1,200 employees work at the Lloyd’s Building, located at One Lime Street. The office, however, is expected to remain fully open and will offer air conditioning for staff, insurance brokers and underwriters.
The insurance marketplace has also been providing small perks for employees during recent warm spells, including complimentary ice cream, alongside Wimbledon- and World Cup-themed refreshments, as temperatures regularly topped 30C.
Lloyd’s of London operates as a marketplace where brokers and underwriters spread risk across assets. It is one of the City’s oldest firms, with roots dating back to 1688, when it began as a coffee house frequented by merchants and ship-owners. Like other Square Mile employers weighing office attendance during periods of extreme heat, the group is balancing business as usual at its landmark building with flexibility for staff as temperatures rise.
ING advises return to office
This week’s high temperatures are not the first time Square Mile firms have had to deal with extreme heat this year.
Last month, City AM reported that firms including JPMorgan Chase, ING and Deutsche relaxed desk attendance expectations during the June heatwave.
JPMorgan, which employs more than 13,000 staff in London, eased its typically strict return-to-office rules during the period of high temperatures.
ING also dropped return-to-office requirements last month after the Met Office issued a red alert health warning. However, the Dutch bank is not urging staff to stay at home this week because no such caution is currently in place, City AM understands.
In a recent report, ING warned that European heatwaves pose a serious risk to the region’s economic output.
The bank said the effects of high temperatures are usually associated with farmers, builders and other labourers, but that heatwaves are increasingly creating a “new downside risk for the European economy.”