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The Hiscox CEO was speaking on the third anniversary of the foundation of electronic trading platform PPL. -
The latest disciplinary action comes amid heightened regulatory scrutiny of executives’ behaviour.
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Remember the attempt to re-convene the New York Insurance Exchange (NYIE) back in 2010/11?
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Bruce Carnegie-Brown will chair the global committee, which includes the CEOs of Hiscox, Beazley and Ascot, as well as the top three brokers.
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The regulator expects “demonstrable progress” on Lloyd’s culture change programme, the director of insurance supervision says.
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The chairman of Lloyd’s says the Corporation is “bringing the market with us” in its transformation programme.
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Willis Towers Watson CEO John Haley will also sit on the global committee.
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Lloyd’s underwriters, Arch and Lexington will need to reach a new accord with victims of Allen Stanford’s $5bn investment fraud.
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Policies dating back to 1993 will form part of the mammoth transfer.
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The money will fund charities focussing on education and social mobility.
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CEO John Neal predicts a fundamental change in the provision of motor insurance within five years.
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The ratings agency reverses an October 2017 cut to the outlook as it predicts a market-wide combined ratio of between 95 percent and 99 percent over 2019 to 2021.
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