Exclusive: Lloyd’s – Different Mindsets Needed
Source: Asia Insurance Review | May 2006
Lloyd’s has
come a long way since its difficult days in the 1990s when staggering losses
from global catastrophes and abestosis claims threatened to pull the plug on
the very existence of this 300-year-old marketplace. In recent years, it has
taken drastic steps to introduce new corporate investors, change its accounting
system, set up Equitas, appoint a franchise performance director, and is now
implementing further reforms. Lord Peter Levene of Portsoken, the 61st Chairman
of Lloyd’s and the first Lloyd’s Chairman from outside the market,
tells Wendy Koh and Irene
Yeo why Lloyd’s will continually need to change in order
to survive and thrive.
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