Distribution schadenfreude
"They'll need to watch out - US brokers will have your
arm off given half the chance!" exclaimed one London broker to
us some years ago, as yet another Lloyd's insurer unveiled
plans for a shiny new US platform.
The announcement was the latest in a seemingly unending procession
of external forays from hitherto Lloyd's-only players.
Of course, as a London loyalist scared of being cut out of the
distribution chain, there was an element of "he would say that...
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