LIIBA elects BMS CEO Nick Cook as new deputy chair
London and International Insurance Brokers’ Association (LIIBA) has elected Nick Cook, CEO of BMS Group, as its new deputy chairman.
Cook replaces Barnaby Rugge-Price who stood down in 2018.
“Nick’s experience in growing an independent, international broking business, headquartered here in London, gives him a strong view on both the value that the London brokers deliver but also how else LIIBA can support its members going forward. His energy and input will be invaluable to taking forward our growth agenda,” said LIIBA’s chairman Roy White, who will serve as chairman for a further 12 months.
The corporation also published its annual report on its work during 2018 and outlining priorities for 2019. It said that while many key priorities will carry over from last year, such as Brexit preparation, regulation and all-important market modernisation and efficiency, the forward-looking agenda has been widened to include supporting members grow their businesses, with proposals to support the drive for growth from emerging economies such as Latin America.
“2018 was an exceptional year which saw significant milestones for the broking industry, in which I am proud to say LIIBA played an important part," White said. "The publication of the FCA’s Wholesale Insurance Brokers Market Study endorsed our belief in the competitiveness of the London market and included positive commentary about the value our members deliver to their clients around the world. We also saw changes announced by the US Internal Revenue Services to remove the burden of US Foreign Account Tax Compliance Act (FATCA) requirements relating to general insurance transactions."
LIIBA’s Christopher Croft added: “2018 has been a year of frantic activity around truly seismic issues. Brexit, in particular, has absorbed much of our resources. However. I’m pleased to say that, as a result of this work, we believe the UK Government is well informed about LIIBA members’ requirements from any future trading relationship with EU. This has helped shape the advice we have been able to give members around their contingency plans.
“Going forward, we will work closely with the Corporation of Lloyd’s and the rest of the London market on how we can attract more specialty business, while maximising the considerable opportunities that exist for wholesale specialty.”
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