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The Lloyd’s market of 2023 has its own unique character and challenges. An Intelligent Insurer panel of insiders offer their insights.
5 key takeaways
• Brokers warn elements of ‘the nasty days of mid-90s’ are making a comeback
• Underwriters see return to a sustainable market, but discipline remains key
• Fruits of Lloyd’s remedial plans show signs of ripening
• Product value is essential as clients say certain cover is ‘too expensive’
• Disappearance of capacity glut gets brokers out broking after soft market years
“The Lloyd’s market is almost, not quite, back to where it was in the nasty days of the mid-1990s when people were going insolvent every two minutes. We’re not quite there, but some of those challenges are arriving.”
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Lloyd’s, LMA, LIIBA, James Livett, Patrick Davison, Underwriting, Challenges, Brokerage, Insurance, Reinsurance, London market, UK
