Lloyd’s notes falling profit of £2.1bn but says performance is "robust".
Pre-tax profits at Lloyd's have fallen to £2.1bn for 2015 (2014: £3bn) as its combined operating ratio (COR) deteriorated almost two points to 90.0% from 88.4% in 2014. The organisation also saw investment...
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
Businesses must have appropriate processes and supervision in place wherever the AR distribution method is used.
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.
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