Operations/tech

Lloyd’s annual report shows a rise in fees paid to consultants and overall staff costs.

The plan outlines an aggressive M&A strategy, as well as increased InsurTech investment, expansion plans and a target to lift earnings by more than 14% annually until 2024.

The investment firm said that pivoting to a pure-play insurance data business would unlock up to $20bn of value.

Rethink will join Dual, while Howden Analytics will join the reinsurance division.

As part of the revamp, Michael Chang has been named global head of customer and distribution.

The theme of yesterday’s market briefing is that Lloyd’s is now moving into a period of growth, having completed remediation, but it wants smarter, sustainable growth.

Who will lead Italy’s 191-year-old insurer over the next three years? Analysts have their say.

A hardening market, competition from start-ups and macro conditions have combined to drive up staff costs.

With an abundance of detail on delivery, the Corporation can now be held to account.

Discussing tomorrow’s publication of the Blueprint Two interactive guide, the Lloyd’s CEO said market reforms will slash servicing costs by 40%.

With government guidance lifted, there is a growing pressure for an in-person presence in the London market.

Lloyd’s will have no further wiggle room to delay the delivery of Blueprint Two elements this year, but it will depend largely on technology partners.