LONDON (Bloomberg) ? Lloyd's of London, the world's biggest insurance market, will this week ask the British government for tax breaks to make the group more competitive with rival markets including Dublin and Bermuda.

Chairman Peter Levene, in a speech on September 7 in London, will lobby a group chaired by Chancellor Gordon Brown to promote London as a financial centre, said spokesman Nick Gammage in a telephone interview yesterday.

"It's about competitiveness and is not just an issue for Lloyd's," said Gammage.

Lloyd's insurers Hiscox Plc and Amlin Plc, resuming expansions following the industry's record hurricane losses last year, have created operations in Bermuda to take advantage of lower taxes. Bermuda insurers have a corporate tax rate of virtually zero, compared with about 30 percent for British insurers, the Financial Times reported.