The Singaporean business gained in prominence with the carrier’s decision earlier this year to shutter its operation in Lloyd’s China and its Sydney operation.
It’s Halloween and the (re)insurance industry is running scared. But the ghastly sounds are not the groans of ghouls or the shrieks of spectres. Instead, it is the moaning and wailing of underwriters astonished at the latest vast liability award.
Politics is dominating much of the news agenda on both sides of the Atlantic. In the UK, it is the continuing issues arising out of Brexit, while in the US, we are now some 13 months from a presidential election and the debates are heating up.
Discussions over the apparent dearth of talent making its way into the (re)insurance industry are nothing new, and yet the situation is one that does not seem to be improving.
One of my major take-aways from last week’s Wholesale and Specialty Insurance Association (WSIA) conference in San Diego was that there is a sense Lloyd’s has missed an opportunity in the US.
Few market participants would argue against the statement that commercial (re)insurance in many of the major established markets is in a state of flux at present.
The concept of emerging risk continues to dominate insurance boardrooms, with subjects such as opioids, cyber and climate change all topics that are frequently raised.
