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The minister highlighted London’s critical mass of expertise and tech innovation. -
Credit insurers may need to adapt their business mix, client base and types of deals underwritten to stay relevant.
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The scheme will not be in place for 2025 as government discussions grind to a halt.
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A canvassing of the market showed some bifurcation on the necessity of a government backstop.
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The ratings agency said the upgrade reflects an improvement in GIC Re’s balance-sheet strength.
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Current efforts to battle third-party litigation funding are focused on disclosure.
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The government flood insurance program now carries $21bn in debt.
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Changes to the categorisation and oversight of managing agents seek to reduce duplication and thereby cut costs.
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The cat bond application process will be streamlined to 10 working days.
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This is the first major update to the misconduct framework since enforcement powers were introduced in 2005.
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Disproportionate regulation has meant a 40% increase in direct regulatory cost for brokers.
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Incoming CEO James promises transparency as digital development accelerates outside Lloyd’s.
