One step forward, two back?
With a new management team in place, Lloyd's is trying to improve the market's image. But will its agenda to reform and modernise allow innovation to sparkle or will it be too little, too late?
I was recently reminded of one of my more contentious forecasts ofthe 1990s, in which I predicted that the 40 plus motor syndicates
operating at the time would reduce to less than a dozen in a decade.
Little did I realise how right I would be - in 2003, only eight motor
syndicates remain.
However, while the reducing number of brokers and intermediaries continues
to be a talking point, we have lost as many insurers and syndicates as
brokers. We probably had too many underwriters fighting for
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