The London Market Group (LMG) will revise its £250mn ($383mn) forecast for the cost of the Target Operating Model (Tom), the programme of work to deliver modernisation to the market, The Insurance Insider understands.
The UK House of Lords has considered the Enterprise Bill less than a week after members of the London market wrote to the economic secretary to the Treasury Harriet Baldwin to stress that one of the proposals was "fundamentally flawed".
Acappella Syndicate 2014 is the latest Lloyd's player to announce its intention to write political risks and terrorism business with the launch of a new unit headed up by Jonathan Powell.
