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GROUP STRATEGY

LR to focus growth strategy on maritime industry.

Business Assurance & Inspection Services division to become an independent business, branded LRQA, under new ownership of funds managed by Goldman Sachs Asset Management.

Port

The transaction is a key milestone in Lloyd’s Register’s strategy to become the go-to partner and adviser on compliance, performance and sustainability to the maritime industry and broader ocean economy.

The Business Assurance & Inspection Services division will adopt the brand name LRQA, to reflect its 35 years of expertise and heritage in the assurance market, and will no longer be part of Lloyd’s Register.

The creation of two independent businesses will unlock significant growth potential for both companies and enable them to deliver more value to their customers.

  • Lloyd’s Register will build on its 260-year heritage in the maritime industry by committing additional investment capital to take its compliance offering to the next level, expand its risk and advisory services and develop industry-leading digital solutions.
  • With additional focus and investment, LRQA will accelerate its journey to become the leading digitally-enabled assurance provider, partnering with customers across key sectors, geographies and segments as they navigate a changing risk landscape.

Over the coming months, the two companies will be working towards full separation and the transaction is expected to complete in the second half of 2021. In the meantime, and after completion, customers can expect business as usual as we continue to deliver services across the world.


Hear from LRQA’s CEO Paul Butcher on the journey to become the leading digitally-enabled assurance provider.


Hear from Lloyd’s Register CEO Nick Brown on expanding the company’s role and service offering in the maritime industry.

Media contact for Lloyd's Register

Nicola Good
nicola.good@lr.org

T +44 330 414 0419

Media contact for LRQA

Alex Briggs
alex.briggs@lr.org

T +44 330 414 1315
M +44 7769 881 440

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