Issues facing Lloyd's and the insurance market were debated today at a seminar featuring leading industry figures and all four members' agents.
Those speaking included Bronek Masojada (chief executive, Hiscox plc and Deputy Chairman of Lloyd's), Eamonn Flanagan (ING Charterhouse Securities), David Shipley (Managing Agency Partners Limited Syndicate 2791) and Sir Adam Ridley (Deputy Chairman of the Association of Lloyds Members).
According to David Shipley, one of the seminar's key speakers, those within the insurance industry must study history, accept that the industry is cyclical for demonstrable reasons and learn from past mistakes.
He said: "As the debate surrounding private versus institutional capital gathers pace, it is vital that there are informed investment decision making processes and a clear understanding of the consequences of participating in a cyclical industry, and associated risks and rewards of so doing."
Issues addressed by speakers included market governance, a discussion of the Chairman's Strategy Group, the Bain Report and the overarching issue of the future direction of the Lloyd's Market.
