London Market
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The supply-chain InsurTech is also broadening the scope of its Lloyd’s syndicate.
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The association’s membership highlighted climate change as both an underwriting and an operational issue.
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With government guidance lifted, there is a growing pressure for an in-person presence in the London market.
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The news follows an announcement that Alex Powell will take over leadership of the business following the retirement of CEO David Croom-Johnson.
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The association will also work on cyber risks, cladding and reducing regulation this year.
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Rates are continuing to rise with most sectors experiencing around 15% increases, but, in some cases, cyber accounts had increases of up to 300%, according to Miller’s latest market update.
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Trade bodies shared concerns today on the London (re)insurance market’s global competitiveness, in the first session of a House of Lords inquiry into regulation.
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London market intermediaries are benefiting from rocketing organic growth and boosted revenues.
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Chris Croft and Caroline Wagstaff will help to assess the UK sector’s competitiveness.
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The London Market Group’s CEO Caroline Wagstaff has set out how the approach of regulators needs to evolve, amid regulatory reforms.
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Also high on the association’s agenda for 2022 is working with the FCA and HM Treasury on a future regulatory framework.
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Digitisation and a possible lesser future for the underwriting room add pressure for a stratum of the market already facing headwinds.
