A decade of economic reforms has created a “New Canada” that is now ripe for UK insurers to target, says the Hon. Roy MacLaren, Canadian High Commissioner to the UK.
Speaking to more than 100 underwriters and brokers at Lloyd's of London, MacLaren outlined how Canada had reshaped itself, highlighting the opportunities offered to UK insurers.
He said: “Companies cannot be established without insurance. The Canadian business mix we are now seeing at Lloyd's of London is shifting from personal to commercial risks, and Lloyd's underwriters have shown that they are well placed to respond to the needs of the expanding economy. Between 1998 and 1999 alone, Lloyd's of London experienced a 26% increase in business from Canada.”